CALGARY - Pipeline giant Enbridge (TSX:T.ENB, Stock Forum) says it's undertaking the biggest project in its history - replacing a key piece of infrastructure that moves Alberta crude eastward.
The Calgary-based company and its U.S. affiliate are together spending $7 billion to replace Line 3, part of the main Enbridge pipeline system.
CEO Al Monaco says the Line 3 replacement project - to be completed in the second half of 2017 - will act as a “buffer'' that ensures the system remains reliable for customers.
Line 3 crosses the Canada-U.S. border at Gretna, Man., on its way to at Superior, Wisc., but Monaco says the project won't need a Presidential Permit to proceed, reducing the probability of delays.
Monaco says replacing the whole 46-year-old line is more economical than other maintenance options and that its customers have agreed to the additional cost.