17:36:06 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 943,186,589
Close 2017-02-17 C$ 54.97
Market Cap C$ 51,846,966,797
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Globe says Enbridge's Monaco sees cap on pipe capacity

2017-02-21 08:14 ET - In the News

The Globe and Mail reports in its Saturday edition that Enbridge head Al Monaco says Canadian oil producers will likely need only two major pipeline projects to go ahead to have enough capacity for expanding volumes over a decade or more. The Globe's Jacqueline Nelson writes that Mr. Monaco says in the next couple of years, pipeline capacity will be tight as production from Alberta's oil sands increase, adding to the volumes vying for space on already full pipelines to key U.S. markets. He says, however, that not every proposed oil-pipeline project will be needed into the 2020s. He says Enbridge's $7.5-billion Line 3 replacement project, other incremental capacity his company will be able to add on its Mainline system, plus one other major oil pipeline project by a competitor, will likely be enough. Mr. Monaco says: "We believe our post-Line 3 capacity, along with future expandability, and one of the other pipelines being proposed, provides enough capacity well into the latter half of the next decade. That should suffice based on the current supply outlook." Mr. Monaco cautions the building of pipelines is not his call -- that it is based on market demand by producers and refiners.

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