15:23:55 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 1,638,650,944
Close 2017-06-09 C$ 52.12
Market Cap C$ 85,406,487,201
Recent Sedar Documents

FP says Enbridge gears up for more capacity

2017-06-09 06:29 ET - In the News

The Financial Post reports in its Friday, June 9, edition that Enbridge plans to expand its main oil pipeline system and its newly acquired natural gas pipeline system in British Columbia as production of both commodities continue to rise in Western Canada. The Post's Geoffrey Morgan writes that Enbridge closed a bidding period for new capacity on its T-South pipeline between Northern B.C. and Vancouver on June 2. Gas producers are fully committed to supporting an expansion project that would expand the line's capacity by 190 million cubic feet per day. Enbridge on Thursday said the expansion project was "fully subscribed," which analysts say highlights a desire among producers to diversify away from Alberta's AECO prices, the natural gas benchmark index. Enbridge plans to spend $1-billion expanding the line, which delivers most of the natural gas Vancouver uses to heat homes, with a planned in-service date of 2020. Enbridge acquired the T-South pipeline when it spent $37-billion to buy Spectra Energy. Alliance Pipeline LP, which is 50 per cent owned by Enbridge, has similarly asked producers in the area for firm commitments to deliver an additional 500 million cf/d to the Chicago market.

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