Enbridge Inc T.ENB.PR.N

Pipeline Tidbits

[autofocus111]

Tidbit #1 CGL under attack. Millions of dollars in damage. Tidbit #2 TMX costs soar. Government will not fund the gap. What a chitshow.

>>>RCMP say they're investigating a "violent confrontation" at a pipeline construction site involving an unidentified group of about 20 people who allegedly threatened Coastal GasLink (CGL) employees and attending officers..."They confronted the employees, threatened them with axes and flares and other incendiary-type devices."...RCMP said the road was blocked with downed trees, tar-covered stumps, wire and boards with spikes. They say as they made their way along the road, people threw smoke bombs and fire-lit sticks....Further down the road, police say, there was extensive damage to heavy machinery and buildings. CGL said there was "millions of dollars in damage" but it is still estimating the final cost. Brown said the attackers used machinery at the site to damage buildings and the drill pad at the site. When officers arrived to investigate that damage, the attackers had already left, he said.

https://www.cbc.ca/news/canada/british-columbia/rcmp-coastal-gaslink-bc-violence-investigating-1.6356257


>>>Cost of Trans Mountain pipeline expansion soars 70% to $21.4 billion...The federal government said Friday it will not put more money toward the Trans Mountain pipeline expansion in spite of a newly disclosed price tag for the project that comes in 70 per cent higher than expected. Deputy Prime Minister Chrystia Freeland said Friday that Trans Mountain Corporation — the Crown corporation that owns the massive oil pipeline — will need to secure third-party funding to complete the project, either through banks or public debt markets.


https://www.cbc.ca/news/canada/calgary/trans-mountain-pipeline-expansion-calgary-1.6357174

[autofocus111]

Does the TMX crown corp really think anyone is gonna pay full price for this once it's completed> Maybe ENB or TRP can offer to take it off the corp's hands for the estimated amount of the shortfall (since it's sure costs will keep rising until completion)... original estimated cost $12B new cost $21B.... so maybe offer $10B.

[silkos]

I was thinking about that. Why the heck after putting so much money into it they won't take it to completion? It must be part of their green agenda. Perhaps ENB should throw a sh#t offer and take it off their hands.

[bttmfischer]

autofocus111, you may think of Brookfield, the company specializes in buying assetts(E.G Inter Pipeline) on a fire sale.  IF THEY thought that Trans Mountain couidl be profitable, they would be waiting for the right time to take a run at it, IMO. Of course, Canadian oil producers need a way to load itheir product on tankers to export it for asian customers, beside selling it to the US at

[autofocus111]

bttm No doubt there will be buyers for the asset at the right price. But government will take a big fat 10B writedown courtesy of taxpayers. That's our government hard at work building a better corporate Canada.

[Quintessential1]

They will jsut cede it to the natives as payment owed. I am wondering how it will affect the Northern Gateway Pipline progression and the Pacific Trail pipeline that Enbridge is proposing. Go Enbridge! ;-)

[autofocus111]

QUint If they do cede it to the indian tribes, there better be a guarantee the line is completed, remains in operation for the next 50 years, and they are liable for all cleanup costs and environmental fines in the event of any leaks.

[Quintessential1]

The First Nation's people won't look a gift horse in the mouth.  This kind of windfall is worth billions much the same a casinos are they run them fine now.  An experienced partner like Pembina would be a definate asset.   I am not sure Enbridge is even interested but we should know soon. Go Enbridge! ;-)

[CanSiamCyp]

This post has been removed in accordance with Community Policy

[Quintessential1]

What a great idea! Maybe Enbridge can help them build it to atone for their sins of the past. Go Enbridge! ;-)

[bttmfischer]

atofocus, the "write down" in the fictional liberal budget will be even bigger, and socks will claim it was because of the "Climate chnage"

[Quintessential1]

Maybe Pembina will cough up half and the TMX will cede the othe half to its indigenous partners as a settlement for the residential schools and land misappropriation debacles that have taken place in the recent past.  Do not underestimate this government's abillity to come out of this smelling like a rose. https://www.bnnbloomberg.ca/pembina-forms-indigenous-alliance-in-battle-for-trans

[SargeX]

Right fron the get-go on the Liberal idiots getting involved in TMX, I thought it was for two reasons. The first is so that they could say they support pipelines and il & gas and don't have to do anything further, and the second, and real reason, was so that they could somehow kill it. It really does amaze me how amazlingly dumb some people are to keep voting these dim-wits back in. Fiddy