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

|About: Enbridge Inc. (ENB)|By:, SA News Editor

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.