Enbridge looking to invest in natural gas, renewable energy projects: CEO

By Shawn McCarthy, Global Energy Reporter, The Globe and Mail.

Enbridge Inc. chief executive Al Monaco says his company is aiming to invest $1-billion a year in natural gas and renewable energy projects, as it looks to rebalance its earnings away from oil over the longer term and take advantage of the global push to a lower-carbon economy.

Mr. Monaco – whose company is vilified by activists over its oil-sands pipeline projects – will take centre stage this week at the GLOBE conference on sustainable business in Vancouver where Enbridge will promote its investments in natural gas, energy efficiency and wind power. The CEO provoked headlines a week ago when he told analysts that company will shift its growth emphasis away from the oil sands.