The Canadian Press
CALGARY - Enbridge says it's undertaking the biggest project in its history.
The Calgary-based pipeline giant (TSX:ENB) and its U.S. affiliate are together spending $7 billion to replace the Line 3 pipeline.
Line 3 is one of six pipes in Enbridge's mainline system, a key piece of infrastructure that moves Alberta crude eastward.
CEO Al Monaco says the 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 Superior, Wisc., but Monaco says the project won't need a Presidential Permit to proceed, reducing the probability of regulatory 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.