Enbridge (ENB) announced that it has reached a final investment decision on the Mainline Optimization Phase 1 project. MLO1 will add capacity to the company’s Mainline network and Flanagan South Pipeline to meet customer demand for incremental egress, increasing deliveries of Canadian heavy oil to key refining markets in the U.S. Midwest (PADD II) and Gulf Coast (PADD III). Key details: Expected aggregate capital cost of $1.4B; Adding 150 kbpd of Mainline system capacity; Adding 100 kbpd of FSP capacity;Capacity is anticipated to be available in 2027.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ENB:
- Enbridge price target raised to C$72 from C$67 at RBC Capital
- Enbridge price target raised to C$66 from C$65 at National Bank
- Enbridge price target raised to C$67 from C$66 at BMO Capital
- Enbridge price target raised to C$70 from C$69 at Scotiabank
- Enbridge Inc’s Earnings Call Highlights Growth Amid Challenges