Enbridge eyes Gulf route

Enbridge Inc. is accelerating plans to satisfy a growing thirst for Canadian crude among refineries on the U.S. Gulf Coast and would rather buy existing assets in the United States than build a $4-billion direct pipeline link between Alberta and Texas.

“The U.S. Gulf seems to be the [market] that has caught the imagination of producers the most right now,” Enbridge president and chief executive Pat Daniel said yesterday. “Our ideas, while conceptual, are moving ahead very rapidly.”

FinancialPost