Enbridge's $5.5bn Northern Gateway to move oil by 2018
Enbridge's (TSX: ENB) Northern Gateway proposed pipeline is likely to be approved next year and it will be running by 2018, a company official told CBC News Wednesday.
However, the Calgary-based company acknowledges the path will be full of obstacles as issues around oil and gas development and general scepticism over energy projects, are now front and centre of public debate.
The most recent attack to the project came from the US this morning, when conservation group Forest Ethics launched a website in Seattle, featuring real-time tracking of all tankers in and out of Kinder Morgan’s (NYSE:KMP) Westridge terminal in B.C. — the terminus of its Trans Mountain pipeline from Alberta.
Forest Ethics U.S. spokesman, Matt Krogh, says the website is the start of a cross-border campaign to oppose the two Canadian projects.
While neither Trans Mountain nor Northern Gateway projects cross the border, the organization says the additional 700-plus tankers that would move the oil in the Pacific’s waters are a concern for U.S. citizens.
Enbridge's $5.5 billion Northern Gateway project includes two pipelines running 1,177 kilometres to carry 525,000 barrels of oil per day from Alberta to BC's north coast.
Kinder Morgan's proposed expansion of its existing Trans Mountain duct would increase its capacity from 300,000 barrels a day to 890,000.
Image by rickz