CALGARY — The head of Enbridge says the company is unwilling to take on the financial risk of developing a new oil pipeline from Alberta to the BC coast, despite being asked by the Alberta government to provide expertise on the proposal.The Globe and Mail reports that CEO Greg Ebel told investors on a Friday earnings call that the energy infrastructure giant has no intention of leading or financing a new West Coast pipeline project.“I don’t think investors or the infrastructure companies should be taking on the risk of development in jurisdictions that have historically created a challenge,” Ebel said.He pointed to the company’s experience with the Northern Gateway project, a proposed $7.9-billion pipeline that would have transported bitumen from Alberta to northern BC.That project was cancelled in 2016 after the Federal Court of Appeal ruled Ottawa had failed to adequately consult First Nations.During the process, Enbridge invested approximately $600 million in Northern Gateway before the project was scrapped.“The rug was pulled out from underneath us,” Ebel said.“So that’s not the type of risk that we’re looking to take on at this time. We don’t need to with all the other opportunities.”Enbridge is one of three energy infrastructure companies that the Alberta government has tapped to provide technical and regulatory expertise on a potential new oil pipeline to the West Coast.Premier Danielle Smith’s government plans to submit a formal proposal to Ottawa’s Major Projects Office (MPO) in July, seeking to have it designated as a project of national interest in the hopes that expanded pipeline capacity will help diversify exports, in particular to Asian markets..Enbridge ramps up Canadian oil flow to U.S. refiners in new $1.4-billion buildout .The proposed pipeline was the main part of the memorandum of understanding signed by Alberta and Ottawa with the aim of positioning Canada as a global energy superpower.Ebel called the agreement an “encouraging” signal but said industry is looking for more than political messaging.“It’s not so much about the signals and the speeches,” he said.“It’s more about the actions and the results.”Ebel suggested that while his company is prepared to assume construction risk once a project receives full approval, it is unwilling to absorb any uncertainty that could derail a major infrastructure venture before it reaches a final investment decision.“We’re quite happy once we get the go-ahead to take the risk on building them,” Ebel said.“But we’re not going to take the risk of them being stopped before they go into service or frankly, even before FID, because with some of these projects you’re spending hundreds of millions of dollars before you even get regulatory approval.”In 2025, Enbridge secured roughly $14 billion worth of projects, including expansions to oil pipeline capacity in Western Canada, increased natural gas transmission and storage capacity in the U.S., as well as projects in BC and renewable power generation to support data centres operated by companies such as Meta.Ebel said the company now expects to make final investment decisions on another $10 billion to $20 billion in growth projects over the next 24 months.
