(Bloomberg) – The key pipeline connecting Canadian oil sands to US markets could begin exporting raw materials early next month.
The Enbridge Inch Line 3 pipeline from Alberta to Wisconsin could be operational as soon as September 15, bringing relief to Canadian oil producers with limited access to export pipelines. According to a notice sent to exporters within 30 to 60 days of the completion of the new 760,0000 barrel replacement for the low capacity.
Canadian oil producers have been battling a shortage of export pipes for years as projects to build new ones come under increasing scrutiny from courts and regulators. On the first day of his office, US President Joe Biden revoked the license of the TC Energy Corporation’s Keyton XL project, which would help increase Canada’s confidence in the Gulf of Aden.
“Enbridge has introduced a fee increase for the replacement of Line 3 with the Canadian Energy Regulatory Commission and the Federal Energy Regulatory Commission, which could take effect by September 15,” a spokesman said in an email. After all the necessary construction and commissioning work has been completed, there will be an additional file to specify the specific service date shortly before the line goes into service.
Heavy Western Canadian Pick Raw Prices for September Prices at $ 13 per barrel to West Texas Midwest at 2:48 PM Calgary time, if distribution is already narrow to $ 12,160, NE2 Group data shows.
The pipeline will be the first cross-border project to be built between Canada and the United States in recent years. The line is designed to be used in oil and gas production beyond the capacity of existing lines in Western Canada, forcing some companies to take the plunge.
In the Line 3 project, some local and indigenous groups peacefully protested the construction line. He spent years in court battles and control battles to build the Enbridge line. Trans Mountain Expansion, another export line under construction, is scheduled to be operational by early 2022 in British Columbia.
Enbridge shares traded lower at C $ 49.06 in Toronto on Friday.
(Updates prices in the fifth and final paragraphs)
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