Enbridge pipeline system
Enbridge Inc., Canada’s second largest pipeline operator, reported fourth quarter and annual earnings gains on increased output from the Alberta oilsands, forecasting a further 20 per cent gain in earnings per share for 2009. The company forecasts increased demand for natural gas pipeline systems primarily by shale gas in Canada and the United States.
Enbridge earnings for the full year jumped 89 per cent to $1.32 billion largely due to a$556-million after-tax gain on an asset sale. Adjusted earnings for the year increased 6% to $677.3 million from $636.5 million the prior year.
