- Enbridge's (ENB +0.8%) plan to expand the capacity of its Canada-to-U.S. Alberta Clipper pipeline by 120K bbl/day has hit a snag, CEO Al Monaco said in today's earnings call, since getting a U.S. presidential permit for the project is taking longer than expected.
- ENB, which reported lower than expected Q4 earnings today, says it no longer expects to get the permit amendment for the expansion in time to start pumping more oil at midyear, but it can tweak its mainline system, which delivers most of Canada's oil exports to the U.S., to handle additional shipments until it has the permit in hand.
- ENB seeks to expand Alberta Clipper to be able to handle up 800K bbl/day to move rising volumes of crude from the Alberta oil sands; it had expected the first phase of the expansion to be complete at midyear, while a second 230K bbl/day phase had been scheduled to be wrapped up next year.
Enbridge pipeline expansion delayed by wait for U.S. permit
Feb 14 2014, 15:59 ET