May 8, 2026 [ Reuters ]- The investment climate for energy infrastructure in North America is the best it’s been in over a decade, the CEO of Canadian pipeline company Enbridge (ENB.TO), opens new tab said on Friday, as the U.S. war on Iran and global energy security concerns have created growth opportunities in both the U.S. and Canada.
Higher oil prices and surging global demand for energy are creating an extremely favourable environment for energy investment, particularly crude oil infrastructure, Enbridge Chief Executive Greg Ebel said on a conference call to discuss company results.
Enbridge, which moves about 30% of the crude oil produced in North America as well as 20% of the natural gas consumed in the U.S., is looking at between $10 billion and $20 billion of potential new capital investment opportunities within the next 24 months, Ebel said.
“We are in a world with an amazing growth macro for energy infrastructure, the best growth opportunities I have seen in 10 to 15 years,” Ebel said.
The company, which reported a first-quarter adjusted profit on Friday that surpassed analysts’ expectations, is benefiting from rising demand for natural gas, utility infrastructure and power supply for data centers.
Since the start of the Iran war, Enbridge has also seen an increase in demand for crude oil export capacity to its Ingleside export terminal, the largest crude oil storage and export terminal in the U.S., located on the Gulf Coast.
Enbridge has also benefited from rising oil sands production in Canada, and the company is gauging commercial interest in a 250,000 barrels per day second phase of its Mainline pipeline expansion to help meet that rising output.
Enbridge expects Canadian oil output to grow by 1 million bpd by 2035.
Colin Gruending, president of the company’s liquids pipelines division, said he is not surprised competitors such as South Bow (SOBO.TO), opens new tab have put forward their own pipeline plans in light of Canadian oil sands output projections.
Gruending said he sees increased competition not as a threat but rather as an indication of growth that will benefit the entire Canadian industry.
“I would view it as a positive sign and a vote of confidence in the basin and the outlook,” he said.
The Calgary, Alberta-based company posted adjusted profit of 98 Canadian cents per share for the three months ended March 31, topping analysts’ average estimate by 4 cents, according to data compiled by LSEG.
($1 = 1.3645 Canadian dollars)
