Enbridge eyeing M&A in natural gas, power generation

Fri Jul 31, 2015 10:45am EDT
 
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July 31 (Reuters) - Enbridge Inc, Canada's largest pipeline operator, is considering natural gas and power generation acquisitions to help boost the diversity of its asset base, the company's CEO said on Friday.

"We've got such a tremendous liquids pipeline franchise," Chief Executive Al Monaco said on a conference call. "With that though we do feel very strongly about the fundamentals of both natural gas and power generation, renewables being one part of that. I think it's our desire to expand the diversity of the asset base that we have."

"We're scouring every opportunity out there and we will continue to do that," he added.

The company is currently in the midst of a C$44 billion ($33.8 billion) growth program, with much of that focused on crude oil pipelines. ($1 = 1.3024 Canadian dollars) (Reporting by Julie Gordon in Vancouver; Editing by Chizu Nomiyama)