© 2020 Haskayne Alumni Award Receipent, Al Monaco
Age 62, Al Monaco led Enbridge Inc. through a challenging decade, helping to transform and diversify the North American infrastructure company. On January 1, 2023, he will retire as chief executive of the Calgary-based business, having served as CEO of the pipeline giant since 2012, capping a career that spanned three decades.
Al Monaco is a first-generation Canadian, the son of Italian parents who left their small family farm in the ski resort town of Rivisondoli and moved to Canada in the 1950s. He was born in Calgary, where his father moved to work on track maintenance for the railroads.
Al Monaco wanted to be a fighter pilot as a child, but pivoted his career choice into the field of business as an adult.
Monaco earned his Master of Business Administration in Finance from the Haskayne School of Business at the University of Calgary. He later furthered his education in business by completing the Advanced Management Program at Harvard Business School. Additionally, Monaco holds a CPA, and CMA designation, and is a member of the Chartered Professional Accountants of Alberta.
Al Monaco has more than 30 years of experience in the energy business, including the upstream oil and gas exploration, development, and pipeline businesses.
In 1981, he joined Home Oil as an analyst for the inventory group, a job that required him to spend significant time in the field, learning every aspect of the business. From there, he managed to work his way up the ranks, through corporate finance, international operations, risk management, and on to the managerial level.
Monaco was hired by Enrbidge (then known as IPL Energy) in 1995, joining the corporate finance and risk-management department. During his time with the company, he was responsible for multiple departments and major projects, including green energy, gas distribution, planning and development, and financial services. He held the positions of Executive Vice President, Major Projects & Green Energy, President of Enbridge Gas Distribution, Corporate Planning and Development, as well as Vice President of Financial Services and Treasurer for Enrbidge’s U.S.-based master limited partnership.
On October 1, 2012, Monaco was appointed President and Chief Executive Officer and became a member of Enbridge Inc.’s Board of Directors in February of the same year.
Prior to being appointed to this position, Monaco served as President of Gas Pipelines, Green Energy & International, with the responsibility for the growth and operations of the company’s gas pipelines. This included Gas Gathering & Processing Operations in the U.S., Enbridge’s Gulf Coast offshore assets, and the company’s investments in Alliance, Vector, and Aux Sable.
Based in Calgary, Enbridge operates throughout North America and employs 13,000 people. The company focuses on five energy segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services in Canada and the United States.
Al Monaco is a Director and member of the American Petroleum Institute Executive and Finance Committees; a Director and member of the Weyerhaeuser Board and its Compensation Committee; and a member of the U.S. National Petroleum Council, the Business Council of Canada, the Business Council of Alberta, and the Catalyst Canada Advisory Board.
The Energy Council of Canada and Alberta Venture named Monaco as the “Alberta Business Person of the Year” in 2016. He was recognized as “Canadian Energy Person of the Year” and was the recipient of the Fraser Institute Founders Award in 2019.
Under this leadership, Enbridge was praised for supporting communities through the COVID-19 pandemic. The company donated masks, advanced funds to provide relief to those who are most vulnerable, and worked closely with nonprofit community partners and local governments to identify where resources were needed most. Food banks, social service agencies, mental health organizations, first responders and healthcare providers benefited from this critical support.
Enbridge is also committed to supporting First Nations communities, with targeted funding for approximately 150 First Nations governments and organizations.