19:46:35 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 939,017,499
Close 2017-01-12 C$ 56.60
Market Cap C$ 53,148,390,443
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Globe says Enbridge, rivals creating unneeded capacity

2017-01-13 09:04 ET - In the News

Also In the News (C-TRP) TransCanada Corp

The Globe and Mail wonders if Canada is on the verge of moving from a pipeline shortage to a pipeline surplus in its Friday edition. The Globe's guest columnist Thomas Gunton writes that if you look at the numbers, the answer is yes and the implications could be costly. The capacity of the projects approved by the federal government (Kinder Morgan's Trans Mountain, Enbridge's Line 3 and TransCanada's Keystone XL) and under review (TransCanada's Energy East) is 2.9 million barrels per day (bpd). These projects would expand Canadian export pipeline capacity to 7.1 million bpd. The latest forecast by the Canadian Association of Petroleum Producers (CAPP) for Western Canadian oil supply is 4.9 million bpd for 2025 and 5.5 million for 2030. Mr. Gunton says building all four projects would result in 2.4 million to 2.7 million bpd of excess capacity in 2025. The capital cost of empty pipeline space would be about $25-billion. If current rail capacity is included, the surplus capacity would be even higher. Mr. Gunton says the pipeline industry appears to be creating unneeded capacity. Mr. Gunton says no new pipeline projects other than completion of Enbridge's Line 3 are required to 2030.

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