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Reuters

Enbridge eyes LNG opportunities as quarterly profits rise

Canadian energy pipeline company Enbridge Inc reported on Friday a rise in first-quarter profit, and outlined expansion plans as global demand for liquefied natural gas (LNG) surges in the wake of Russia’s invasion of Ukraine. That has led to record U.S. LNG export volumes this year and renewed interest in expanding Canada’s LNG industry beyond a lone Shell-led facility under construction in Kitimat, northern British Columbia. “LNG exports are a big opportunity, with momentum building across the U.S. Gulf Coast, and now more so in western Canada,” Enbridge Chief Executive Al Monaco told an earnings call.