The Canadian Association of Energy Contractors (CAOEC) celebrates the completion of EnbridgeLine 3 Replacement Project. The project will double the line’s export capacity to 760,000 barrels per day, effective October 1, 2021.
Coupled with high commodity prices for oil, natural gas and LNG, the completion of Line 3 is welcome and encouraging news for investors and Canadians from coast to coast and another strong sign of recovery for the Canadian energy sector.
“The completion of Line 3 is a milestone for the Canadian energy sector. The additional capacity will help deliver our responsibly developed and affordable energy to global markets, ”says Mark Scholz, CAOEC CEO.
The Line 3 Replacement Project is the first major expansion of a Canadian pipeline to be completed in six years and took eight years of rigorous planning. The project supported thousands of good jobs, providing an estimated 24,494 full-time equivalent temporary jobs in Canada and contributed $ 2.87 billion of GDP through the design and build phases. Energy projects like Line 3 are vital to Canada’s energy future and to our economic recovery after COVID-19.
“It is essential that our regulatory environment supports best-in-class energy in Canada and prioritizes pipeline projects,” explains Scholz. “Countries around the world need clean energy solutions and Canada should be the first choice to meet those needs. Now is the time for Canada to be a world leader in energy and champion the resource projects that bring our products to market. “