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CORRECTED-UPDATE 1-Canada's Enbridge partners with Pacific Energy on Woodfibre LNG

(Corrects to say invest "$1.5 billion", not "$5.1 billion", in paragraph 1. A previous version of the story also stated the wrong amount.)

July 29 (Reuters) - Canada's Enbridge Inc said on Friday it will invest $1.5 billion in the joint construction and operation of the Woodfibre LNG project with Pacific Energy Corp Ltd.

Woodfibre LNG is a 2.1 million-tonne-per-year liquefied natural gas (LNG) export facility with 250,000 cubic meter of floating storage capacity being built near Squamish, British Columbia.

Under the partnership, Enbridge will invest in a 30% ownership stake in Woodfibre LNG project, with Pacific Energy retaining the remaining stake in the facility.

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The move comes as energy companies look to shift away from more polluting fuels and deepen their presence in a market benefiting from the Russian invasion of Ukraine.

Enbridge also reported earnings attributable to common shareholders of C$450 million, or 22 Canadian cents per share, in the second quarter ended June 30, from C$1.39 billion or 69 Canadian cents per share, a year earlier.

Earnings were hit by non-cash, net unrealized derivative losses of C$850 million. ($1 = $1.2828) (Reporting by Arunima Kumar in Bengaluru; Editing by Shailesh Kuber)