Source: Dan Healing, The Canadian Press, July 10, 2018
Executives from the biggest oilsands companies in Canada say concerns about getting their products to market are easing in the wake of regulatory approval of Enbridge Inc.’s $9-billion Line 3 pipeline replacement project.
The project to add about 375,000 barrels per day of export capacity into the United States cleared its last major regulatory hurdle at the end of June when it was conditionally endorsed by Minnesota state officials.
The decision, when combined with a deal by the federal government to buy the Trans Mountain pipeline and its expansion project for $4.5 billion, removes part of the uncertainty standing in the way of considering major expansion projects again, said executives from Suncor Energy Inc., Canadian Natural Resources Ltd., Imperial Oil Ltd., Husky Energy Inc. and Cenovus Energy Inc.
Image Source: Kent Morrison, Global News
