Enbridge reported its third quarter results on November 6. The company now expects Western Canada oil supply to grow by over 1 million b/d by 2035 and announced it has sanctioned a CAD$0.2 billion project to support growing bitumen production from CNOOC’s Long Lake oil sands project. Management expects to hear more news of oil sands growth plans once producers and governments come to a resolution on negotiations currently underway on pipelines, production growth, and greenhouse gas abatement, which could occur by November 15.
Elsewhere in its Liquids Pipeline business, Enbridge expects to announce capital investments by its Q4 2026 conference call from a recently closed open season on Flanagan South, and an ongoing open season for Southern Access Extension (SAX), but for less combined capacity than the 200 Mb/d on Flanagan South and 50 Mb/d on SAX previously planned as part of the 250 Mb/d Mainline Optimization 2 (MLO2) project. Management also noted it does not expect to offer heavy crude oil service on the soon-to-be-acquired Pony Express system.
In its Natural Gas Transmission business, the 2.5 Bcf/d Blackcomb pipeline and the Tennessee Ridgeline pipeline have both entered service, and the 2.6 Bcf/d Bay Runner pipeline and the 535 MMcf/d Aspen Point expansion to the Westcoast system are now mechanically complete. Enbridge continues to work on its planned 0.3 Bcf/d expansion of its Algonquin system and is advancing opportunities in Florida via its interest in the Sabal Trail pipeline and its connected storage assets.
In its Natural Gas Distribution and Storage business, Enbridge announced the $0.5 billion acquisition of Laramie Energy which will help it support its Utah customers and noted it has almost 90 Bcf of storage capacity already sanctioned.
Enbridge’s secured growth backlog is now CAD$38 billion vs. CAD$41 billion three months ago.
Source: Enbridge Inc.
