Equities
Feds Approve Enbridge's British Columbia Natural Gas Pipeline Expansion
The Federal government has approved Enbridge's (ENB.TO) $4 billion natural gas expansion of its Westcoast pipeline system in British Columbia, the company said on Friday.The Sunrise expansion program will add 300 million cubic feet per day of natural gas transportation capacity to the southern portion of the Westcoast pipeline system. Natural gas transported on the Westcoast system is used to heat homes, hospitals, businesses, and schools, and also supports electric power generation, industrial activity across B.C. and global LNG exports.The project will contribute more than $3 billion to Canada's economy, and will see 2,500 workers being hired during construction. More than $52 million has been spent on the hiring and procuring of services from Indigenous businesses, a statement added.Construction is scheduled to begin in July, with a targeted in-service date in late 2028."Leading up to and throughout construction, Enbridge will continue to work with Indigenous groups, local communities, contractors and other stakeholders. As part of our commitment to supporting local businesses, Enbridge is procuring pipe for the Sunrise Expansion Program from InterPro Pipe + Steel, a Canadian steel mill and pipe provider, who will use Canadian workers and expertise to produce the pipe." said Matthew Akman, Enbridge's executive vice president and president, gas transmission.Enbridge shares were last seen up US$0.09, to US$52.60, in New York trading.
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