Enbridge Inc. has reached a commercial agreement with shippers to place the Canadian portion of the Line 3 replacement pipeline into service by the end of this year. This agreement reflects the importance of this safety-driven maintenance project to protecting our environment and ensuring the continued safe and reliable operation of the pipeline well into the future.
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Enbridge Inc. reported fourth quarter and full year 2018 financial results and provided a quarterly business update.
Algonquin Power & Utilities Corp. announced that its subsidiary Liberty Utilities (Canada) LP has entered into an agreement to purchase Enbridge Gas New Brunswick Limited Partnership , a subsidiary of Enbridge Inc., along with its general partner for C$331 million, subject to certain customary adjustments. New Brunswick Gas is a regulated utility that provides natural gas to approximately 12,000 customers in 12 communities across New Brunswick, and operates approximately 800 km of natural gas distribution pipeline.
On October 31, Enbridge reported that it had completed repairs on its 36-inch natural gas transmission pipeline that had ruptured on October 9 near Prince George and that the company planned to bring the line back into operation as of today. The pipeline will not be at full capacity once it restarts. Rather, it will start at about 55 percent operating pressure and gradually ramp up to 80 percent through November.
Enbridge Inc. reports strong third quarter 2018 results and significant progress on strategic priorities
Enbridge Inc. has reported third quarter 2018 financial results and provided a quarterly business update.
Enbridge Inc. will move forward with the amalgamation of its Ontario based utilities, Enbridge Gas Distribution Inc. (Enbridge Gas Distribution) and Union Gas Limited (Union Gas), with an expected effective date of January 1, 2019.
Enbridge continues to respond following the October 9, 2018, incident on our 36-inch natural gas transmission pipeline near Prince George, B.C.
Enbridge Inc. on behalf of itself and certain of its wholly owned US subsidiaries and Spectra Energy Partners, LP announced that they have entered into a definitive agreement under which Enbridge will acquire all of the outstanding public common units of SEP on the basis of 1.111 common shares of Enbridge for each common unit of SEP. The Agreed Exchange Ratio represents a 9.8% increase to the exchange ratio offered by Enbridge on May 17, 2018 of 1.0123 Enbridge common shares per SEP common unit. The transaction is valued at US $3.3 billion / CAN $4.3 billion based on the closing price of Enbridge's common shares on the New York Stock Exchange (NYSE) / Toronto Stock Exchange (TSX) on August 23, 2018.
Canada is a place where the environment and the economy go hand in hand. Providing a stable, effective regulatory regime to approve and oversee pipeline operations is integral to safeguarding the environment, while supporting projects in the national interest that create good jobs, strengthen and grow the middle class and help get Canada's resources to world markets will deliver economic benefits for all Canadians.
Growth continues to be the word across the board for Enbridge, according to the company's financial results through the second quarter of 2018. With $7 billion in new projects scheduled to come into service in 2018, and the company's Line 3 project moving forward, company executives are expecting that strength to continue.
Aecon awarded pipeline construction contract by Enbridge for Line 3 Replacement Phase 2 project in Manitoba
Aecon Group Inc. has announced that SA Energy Group, a 50/50 joint venture between Aecon and Robert B. Somerville Co. Ltd., has been awarded a $282 million contract by Enbridge Pipelines Inc. for Spreads 8 and 9 of the Line 3 Replacement Phase 2 project in Manitoba.
Enbridge Inc. has entered into definitive agreements to sell its Canadian natural gas gathering and processing business in the Montney, Peace River Arch, Horn River and Liard basins in British Columbia and Alberta (the G&P business) to Brookfield Infrastructure and its institutional partners for a cash purchase price of CAN $4.31 billion, subject to customary closing adjustments and receipt of regulatory approvals.
Enbridge Inc., Enbridge Energy Partners, L.P. and Enbridge Income Fund Holdings Inc. have announced that the Line 3 Replacement Project has been approved by the Minnesota Public Utilities Commission (PUC). The PUC granted Enbridge a Certificate of Need for the project and approved Enbridge's preferred route with minor modifications and certain conditions.
Enbridge has reported a continued growth in its earnings through the first quarter of 2018, and expects the year to continue strong as it executes a number of key projects in a number of different areas.
Enbridge does not expect a material impact to its previously disclosed financial guidance over the 2018-2020 horizon as a result of the Federal Energy Regulatory Commission (FERC) revised policy statement on interstate pipeline tax allowance recovery in Master Limited Partnerships (MLPs) nor from FERC's Notice of Proposed Rule-Making (NOPR).