CALGARY \u2014 Enbridge Inc. says it added $3 billion in new growth projects to its roster south of the border during the third quarter, while in Canada it has no immediate plans to make a pitch to the new federal Major Projects Office.<\/p>\n
The Calgary-based energy infrastructure giant says during the third quarter, it gave the green light to its US$500-million Southern Illinois Connector project. Through expansions to existing pipelines, that project would enable 100,000 barrels per day of oilsands crude to flow to Texas.<\/p>\n
“Maybe in baseball terms, that’s our lead off hitter and it’s now on base,” said Colin Gruending, president of liquids pipelines, on a conference call to discuss third-quarter results.<\/p>\n
The U.S. market remains attractive for Canadian crude, he said.<\/p>\n
“South is where it’s at. Our customers prefer that direction.”<\/p>\n
Many companies have U.S. refinery interests that are integrated with their oilsands production and there’s less competition nowadays from Venezulan and Mexican heavy oil imports into the U.S., Gruending added.<\/p>\n
Enbridge also sanctioned expansions to its Canyon and Eiger pipelines, as well as additions to natural gas storage and transmission operations during the quarter.<\/p>\n
Continuing with the baseball analogies, Gruending said the first phase of Enbridge’s Canadian Mainline Optimization is “at the plate” and a second tranche is “in the batter’s box.”<\/p>\n
The Canadian Mainline is a vast network of crude pipelines spanning the country and connecting to points south. Enbridge announced plans earlier this year to invest $2 billion through 2028 on improvements to the system to boost throughput.<\/p>\n
The first 150,000-barrel-per-day phase is in the final stages of customer negotiations. The company is on track to make a final investment decision this quarter, with the expansion coming into service in 2027.<\/p>\n
A second Mainline expansion phase would add another 250,000 barrels per day of capacity, and Enbridge expects to gauge customer interest early in the new year.<\/p>\n
Chief executive Greg Ebel said it makes sense to expand what Enbridge already has instead of building something brand new.<\/p>\n
“Relative to potential greenfield projects that would require significant energy policy change, these brownfield opportunities offer the quickest and most cost-effective way to add close to 500,000 barrels a day of capacity to satisfy the near-term production increases forecasted out of the (Western Canadian Sedimentary Basin),” Ebel told analysts on a conference call Friday.<\/p>\n
Legislation passed earlier this year established a new office based in Calgary to review projects deemed in Canada’s national interest on an expedited timeline. Alberta Premier Danielle Smith is among those clamouring for a new West Coast oil pipeline being added to the list, and her government is working on putting together a proposal.<\/p>\n
Enbridge, Canada’s biggest crude oil shipper, is only advising on that effort and has no plans of its own to make a pitch to the Major Projects Office, Ebel said.<\/p>\n
“It’s great that it’s set up. Hopefully that’ll be helpful for those national interest projects,” Ebel said.<\/p>\n
“But all the things we’re talking about are short-cycle, relatively permit-light, and so we haven’t seen the need to go down that route.”<\/p>\n
Earlier Friday, Enbridge reported its third-quarter profit fell compared with a year ago as its revenue also edged lower.<\/p>\n
It earned $682 million attributable to common shareholders or 30 cents per share for the quarter ended Sept. 30. That compared with a profit of $1.29 billion or 59 cents per share in the same quarter last year.<\/p>\n
On an adjusted basis, Enbridge says it earned 46 cents per share in its latest quarter, down from an adjusted profit of 55 cents per share a year ago. The average analyst estimate had been for an adjusted profit of 51 cents per share, according to LSEG Data & Analytics.<\/p>\n
Operating revenue totalled $14.64 billion, down from $14.88 billion in the same quarter last year.<\/p>\n
This report by The Canadian Press was first published Nov. 7, 2025.<\/p>\n
Companies in this story: (TSX:ENB)<\/p>\n
Lauren Krugel, The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"CALGARY \u2014 Enbridge Inc. says it added $3 billion in new growth projects to its roster south of…\n","protected":false},"author":2,"featured_media":268655,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[123483,45,49,48,123482,123480,74336,123481],"class_list":["post-268654","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-baseball-terms","tag-business","tag-ca","tag-canada","tag-colin-gruending","tag-enbridge-inc","tag-major-projects-office","tag-western-canadian-sedimentary-basin"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/268654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=268654"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/268654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/268655"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=268654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=268654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=268654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}