Enbridge Inc. is bulking up its natural gas storage capabilities and betting big on long-term demand for North American exports of LNG, viewing the super-chilled fuel as a key source of energy for decades to come.

Enbridge

“Natural gas and oil will remain critical components of our energy supply in all energy transition scenarios that balance the energy trilemma of reliability, sustainability and affordability,” CEO Greg Ebel said Friday (Aug. 4) during a call to discuss second quarter earnings.

Ebel trumpeted the recently announced acquisition of a nearly 94% controlling interest in the Aitken Creek natural gas storage facility in British Columbia (BC) from FortisBC Holdings Inc. The deal, slated to close in the fourth quarter, would bolster the company’s long-term liquefied...