Enbridge to undertake $7B mainline replacement program, shares +1.9%


Enbridge (ENB +1.9%) and Enbridge Energy Partners (EEP +0.2%) say they have received shipper support for a C$7B project to replace segments of its Mainline pipeline system running between Alberta and Wisconsin.

ENB says the replacement program for Line 3, an oil pipeline that is part of the Mainline system, will complement an existing segment replacement program; no U.S. presidential permit is required.

The Canadian part of the program is estimated to cost ~$4.2B, while the U.S. side is estimated to cost ~$2.6B; the entire program is targeted for completion by H2 2017.

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Comments (2)
  • coyote flaco
    , contributor
    Comments (101) | Send Message
     
    Sounds like a great idea. Borrow money from existing stake holders (and believe me they will do it with investment banker enabler engineering), pay distributions with borrowed money, remediate ageing infrastructure to prevent a recurrence of the long litany of environmental disasters caused by the abrasive "tar" flowing through the pipes, and pay for the Houston boys to play "oil bidness".
    4 Mar 2014, 01:34 PM Reply Like
  • coyote flaco
    , contributor
    Comments (101) | Send Message
     
    The Canadian tax sands are now conveniently renamed oil sands. Do you know what dilbit is? It is diluted bitumen with organic solvents added to increase viscosity of the effluent. There is a record of numerous and serious casualties in Wisconsin, N. Dakota and Michigan on the Enbridge system. Please address the other statements I make with respect to the management of the assets and the enormity of the cost of maintenance, and the ongoing dilution caused by repeated secondary stock offerings and partnerships of convenience, that come with increasing regularity. There has been an alarming use of leverage with consequent impairment of unit holder equity, and only vague and diminishing hope of future benefit. I see no pot of gold at the end of this rainbow.
    4 Mar 2014, 11:31 PM Reply Like
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