Canada's Enbridge earmarks $2 B until 2028 for Mainline network upgrade
Canadian midstream company Enbridge said on Tuesday that it plans to invest $2.5 B in its liquids and natural gas systems, with $2 B allocated to its Mainline network through 2028.
The Mainline is North America's largest crude oil pipeline network and transports light and heavy crude oil, natural gas liquids and refined products from Edmonton, Alberta, to various markets in Canada and the U.S. Midwest.
Enbridge moves about 40% of crude oil produced in North America.
The announcement coincides with U.S. President Donald Trump's 10% tariffs on Canadian energy imports coming into effect. The company had said in its 4Q earnings that it did not see its financial guidance being materially impacted by the levies.
"All four of our growing franchises are opportunity-rich, and we're seeing approximately $50 B of combined new growth opportunities through 2030," CEO Gregory Ebel said in Tuesday's investor day plan.
The company said it would also invest $400 MM in Birch Grove, a 179-MMft3d expansion of the T-North section, which is part of its Westcoast Pipeline.
The expansion is expected to enter service in 2028 and would increase T-North's total capacity to 3.7 Bft3d.
The 2,953-km-long (1,834 miles) Westcoast Pipeline stretches from Fort Nelson in northeast British Columbia to Gordondale near the BC-Alberta border, south of the Canada-United States border, and currently has a capacity of 3.6 Bft3d.
Enbridge also sanctioned $100 MM in February to expand the T15 project in North Carolina - a 45-mile natural gas pipeline that will supply Duke Energy's DUK.N Roxboro plant - and aims to double the capacity of natural gas delivered to it.
Both T15 phases are expected to cost a total of $700 MM and will become operational in 2027 or 2028, the company said.
Related News
Related News
- ADNOC Gas awards $2.1 B in contracts to enhance LNG supply infrastructure
- U.S. Department of the Treasury releases final rules for clean hydrogen production tax credit
- Nicor Gas celebrates its first renewable natural gas interconnection
- EnviTec Biogas looks to expand biogas production into the U.S.
- AGDC and Glenfarne to develop $44-B Alaska LNG project
Comments