Line 3 Replacement Boosts EEP; 20% Upside
Enbridge Inc. is moving forward with the Mainline Line 3 Replacement project, which means that the Lakehead system expansion is also moving forward. During the quarter, construction began on the U.S. portion of the Line 3 replacement project. The project still requires regulatory permitting from the state of Minnesota, which we expect that the company will receive by the end of the year. Line 3 will add 370 mbbl/d of new pipeline capacity that will provide access to the U.S. Midwest, eastern Can...Enbridge Energy Partners owns and operates crude oil and liquid petroleum transportation and storage assets, and natural gas gathering, treating, processing, transportation and marketing assets in the U.S. The company's Liquids segment includes the Lakehead, North Dakota and the Mid-Continent crude oil systems. The company's Lakehead system consists of a series of interstate common carrier crude oil and liquid petroleum pipelines, and storage assets. The company's Natural Gas segment consists of natural gas and natural gas liquids (NGL), rail and liquid marketing services, gathering and transportation pipeline systems, natural gas processing and treating facilities and NGL fractionation facilities.
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