15:40:49 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 924,352,708
Close 2016-04-25 C$ 53.05
Market Cap C$ 49,036,911,159
Recent Sedar Documents

FP says Enbridge's Line 3 gets conditional approval

2016-04-26 09:27 ET - In the News

Also In the News (C-TRP) TransCanada Corp

The Financial Post reports in its Tuesday, April 26, edition that Ottawa should okay Enbridge's Line 3 pipeline project, with conditions, the National Energy Board recommended Monday. The Post's Geoffrey Morgan writes that Enbridge has made an application to replace its Line 3 pipeline between Alberta and Wisconsin, which would allow it to ship 760,000 barrels per day through the line. Enbridge currently ships about 390,000 bpd through the existing line. The project is the largest in Enbridge's history with an estimated price tag of $7.5-billion and it expects the new line, built next to the 50-year-old existing line, will be in operation by 2019. At the same time, the NEB imposed 89 conditions on the approval, including environmental and safety issues. NEB chief environment officer Robert Steedman said, "The hearing panel is of the view that replacing the existing Line 3 pipeline is an important step in the lifecycle of the pipeline." The new line would allow Canadian oil companies more access to the United States market -- something the domestic energy industry has been seeking for years. Unlike TransCanada's denied Keystone XL, Enbridge's Line 3 does not need presidential approval because the line already exists.

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