British Columbia Premier Christy Clark is ready for talks with Alberta Premier Alison Redford over Enbridge Inc.’s (TSX: T.ENG, Stock Forum) controversial Northern Gateway pipeline.
In a letter to Redford, Clark reminded the Alberta Premier that there are five conditions that must be satisfied before B.C. can consider supporting the development of heavy oil pipelines within its boundaries.
“I look forward to continuing a dialogue with you about opportunities to address British Columbia’s five conditions,’’ said Clark the September 26th letter.
“I expect to be in Calgary early next week should you wish to discuss this issue further,’’ she said.
If approved, the Enbridge pipeline would run from Edmonton, Alberta to Kitimat on British Columbia’s northern coastline, potentially carrying 525,000 barrels of petroleum per day. Alberta is keen for the pipeline to proceed as it targets new markets in Asia.
But B.C. is seeking a “fair share” of the economic benefits it will allow any pipeline to cross into its boundaries, Clark has said.
Trading at $38.87 Wednesday, Enbridge has a market cap of $31 billion, based on 797.5 million shares outstanding. The 52-week range is $42.23 and $31.52
For details of the five conditions and the full contents of the Clark letter, please click on the link:
https://www.newsroom.gov.bc.ca/2012/09/premier-christy-clarks-letter-to-alberta-premier-alison-redford.html