Summary
Enbridge Inc. (ENB) filed a Form 6-K on February 1, 2013, to report a significant expansion of its Canadian Mainline system. The company announced plans for an additional $0.4 billion investment to increase capacity by 230,000 barrels per day. This expansion will primarily involve enhancing pumping horsepower, with no need for new pipeline construction, and is expected to be operational by 2015. The project has secured approval from mainline shippers under Enbridge's existing Competitive Tolling Settlement framework. This initiative underscores Enbridge's commitment to growing its core liquids transportation business and meeting the increasing demand for energy transport in North America. The approved expansion, to be undertaken by wholly-owned subsidiary Enbridge Pipelines Inc. (EPI), highlights the company's strategy of leveraging existing infrastructure to optimize capacity and deliver value to its stakeholders. Investors should note that the expansion is subject to regulatory approvals and that forward-looking statements are subject to various risks and uncertainties.
Key Highlights
- 1Enbridge Inc. announces a $0.4 billion expansion of its Canadian Mainline system.
- 2The expansion will add 230,000 barrels per day of crude oil and liquids transportation capacity.
- 3The project involves increased pumping horsepower and does not require new line pipe construction.
- 4Expansion is expected to be in service by 2015.
- 5The expansion has been approved by mainline shippers under EPI's Competitive Tolling Settlement.
- 6The filing includes a press release dated January 4, 2013, detailing the expansion.
- 7Enbridge continues to focus on growing its core energy transportation infrastructure.