Enbridge to buy Spectra Energy

Deal would give Enbridge a stake in potential northwestern B.C. liquefied natural gas industry

  • Sep. 6, 2016 12:00 p.m.

ENBRIDGE may eventually be stymied in its attempt to build an oil-carrying pipeline through northern B.C. to the coast but if a massive deal announced today goes through, it will still have a stake in the region’s potential energy future.

The $37 billion all-stock deal would have Enbridge buy Spectra Energy which has a 50 per cent share in Westcoast Connector Gas Transmission, a natural gas pipeline which would feed a planned liquefied natural gas (LNG) plant near Prince Rupert.

The other half of the planned pipeline was owned by BG Group which also owned the planned Prince Rupert LNG plant until Shell took over BG Group in a deal which closed earlier this year.

“The combination of Enbridge and Spectra Energy creates what we believe will be the best, most diversified energy infrastructure company in North America, if not the world,” Spectra CEO Greg Ebel said today in a statement of the all-stock deal.

Spectra Energy is a major natural gas transporter in B.C. thanks to a 1,751 mile pipeline which begins in Fort Nelson in northeastern B.C. and at a location on the B.C./Alberta border which then runs south to the Canadian/U.S. border in the Fraser Valley.

That system transports 60 per cent of the gas produced in B.C., supplying all of the province’s natural gas needs and half of the natural gas demand in the U.S. Pacific Northwest, indicates Spectra’s website.

The Enbridge-Spectra deal comes at a time when Enbridge’s planned oil-carrying Northern Gateway pipeline from Alberta to a marine export terminal at Kitimat faces an uncertain future because of court rulings and a proposed federal ban on oil tanker traffic on B.C.’s north coast.

 

 

 

 

 

Just Posted

College buys a yurt to boost student success

Round tent-like structure part of college instructional shift

Soup kitchen sees “groundswell of community support”

Donations toward looming tax bill push non-profit back in the black

Terrace husband and wife honoured for saving each other’s lives

BC Ambulance presented each a Vital Link Award for separate incidents of CPR

Council supports lobby for fair share of cannabis tax revenue

The City of Terrace is throwing its support behind a West Kelowna… Continue reading

Airport registers modest passenger increase

Manager anticipates further growth in 2018 as expansion project nears completion

REPLAY: B.C. this week in video

In case you missed it, here’s a look at replay-worthy highlights from across the province this week

A look at potential Canadian nominees for this year’s Oscars

The nominations are to be revealed Tuesday morning for the 90th Academy Awards

Complaint against Prince George RCMP in death of Wet’suwet’en man

Thirty-five year old Dale Culver died while in Prince George RCMP custody last summer.

B.C. expert weighs in on why kids are eating Tide pods for fun

Why are kids taking part in something completely pointless yet so risky?

Philadelphia Eagles headed to Super Bowl

After routing the Minnesota Vikings 38-7, they will face Tom Brady and the New England Patriots

Heavy snowfall closes Mount Washington on Vancouver Island

Road to ski resort deemed unsafe, vehicles buried under more than three feet of snow

VIDEO: Dramatic video shows return of rescued B.C. snowboarders

Two snowboarders were rescued near Rossland, B.C. on Sunday after being lost overnight.

Tom Brady leads Patriots back to Super Bowl, top Jaguars 24-20

New England to face winner of Sunday night’s game between Minnesota and Philadelphia on Feb. 4

Liberals quietly tap experts to write new paternity leave rules

Ideas include creating an entirely new leave benefit similar to one that exists in Quebec

Most Read