Enbridge Inc. has approved a $1.4-billion project to expand its pipeline network, allowing more Canadian oil to reach refineries in the U.S. Midwest and Gulf Coast.The Calgary-based pipeline company said Thursday it will proceed with the first phase of its Mainline Optimization project, which will increase the system’s capacity by 150,000 barrels per day. The company also plans to add 100,000 barrels per day of capacity to its Flanagan South Pipeline, which runs from Illinois to Oklahoma.The expanded capacity is expected to be available in 2027.The project will involve upgrades to existing facilities, including improvements to terminals and the addition of pump stations. Enbridge will also use available space on the Seaway Pipeline to transport oil to Texas.Colin Gruending, an executive vice president at Enbridge, said in a statement the project would add capacity for Canadian oil exports and improve connections to North American refineries.The expansion of the Flanagan South Pipeline is backed by long-term shipping contracts from Edmonton to Houston. Most existing customers have agreed to extend their contracts through the next decade, according to the company.The project aims to address demand for pipeline space to move heavy crude oil from Western Canada to U.S. markets. (ICE TORONTO)

Fonte notizia: https://www.cpecn.com/