13:54:48 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 1,638,941,543
Close 2017-08-03 C$ 52.47
Market Cap C$ 85,995,262,761
Recent Sedar Documents

Globe/CP say Enbridge sees Line 3 costs increasing

2017-08-04 08:57 ET - In the News

The Globe and Mail reports in its Friday, Aug. 4, edition that regulatory delays and route modifications will increase the cost of Enbridge's Line 3 pipeline replacement project. A Canadian Press dispatch to The Globe reports that Enbridge said the project will cost $8.2-billion, 9 per cent more than its previous forcecast. The increased cost will be offset, however, by lower operating costs and a stronger U.S. dollar, and the project remains on schedule for service in the second half of 2019, Enbridge said. Chief executive officer Al Monaco said Line 3 had obtained permits in Canada and North Dakota and Wisconsin, but still required regulatory approval from Minnesota, which Enbridge expects in the third quarter of 2017. Asked whether Enbridge can make up for capacity elsewhere if the project gets delayed in Minnesota, Mr. Monaco said, "The capacity will be restored once the full line gets replaced." Enbridge is unlikely to be affected by rival pipeline projects, TransCanada's Keystone XL and Kinder Morgan Canada's Trans Mountain, Mr. Monaco said. "In terms of attracting spot barrels, we would see us as being extremely competitive," he said.

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