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CALGARY - Oil and gas transport company Enbridge Inc. (TSX:ENB) will spend $185 million to expand its Athabasca Pipeline to handle crude from the Christina Lake oilsands project operated by Cenovus (TSX:CVE).
The 540-kilometre pipeline carries oil from a number of oilsands projects in Northern Alberta to the mainline hub at Hardisty, near Edmonton. When the expansion is complete in 2013, it will be able to transport about 430,000 barrels per day, Enbridge said Thursday.
"The Athabasca Pipeline can be expanded to as much as 570,000 barrels per day," executive vice-president Stephen Wuori said in a statement Thursday.
"Depending on the needs of other shippers we may revise the scope of this expansion upward prior to regulatory filing. Such additional capacity would be available in the third quarter of 2014."
Enbridge operates the world's largest crude oil pipeline, shipping oil from Alberta to Canadian and U.S. markets. The company also owns Enbridge Gas Distribution, the biggest natural gas distributor in Canada, focused on Ontario, Quebec and upper New York state.
