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Market Chatter: Review of Northern Gateway Pipeline in Jeopardy from Budget Cuts

Enbridge Inc (ENB.TO) Northern Gateway Pipeline review may be jeopardized by budget cuts, The Star newspaper reported today.

Documents filed with the National Energy Board show the environmental review panel studying the Northern Gateway Project asked Fisheries and Oceans Canada (DFO)for assessments for the bodies of water the proposed pipeline will cross. DFO didn't have the assessment, The Star said.

"As DFO has not conducted a complete review of all proposed crossings, we are unable to submit a comprehensive list as requested; however, this work will continue and should the project be approved, our review will continue into the regulatory permitting phase," the DFO wrote in a five page letter dated June 6, 2012.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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