Enbridge expresses interest in building pipeline for Canada's Pathways carbon capture network
ENB•Enbridge said it is interested in building a CO2 pipeline for Alberta's proposed Pathways carbon capture project, which would connect oil sands facilities to storage through a 650-km network. Enbridge's third-quarter earnings nearly doubled to C$1.29 billion.
1. Pathways pipeline proposal
Enbridge said it is interested in building a CO2 transportation pipeline for the proposed Pathways carbon capture and storage project in Alberta's oil sands region. Executive vice-president Colin Gruending said the company was interested “with the right risk package” and already operates a significant regional pipeline system.
2. Project and earnings details
The project, proposed by five oil sands producers, would move compressed CO2 through a 650-km pipeline network to an underground storage hub near Cold Lake. The consortium is targeting late 2027 for a final investment decision. Enbridge's third-quarter earnings nearly doubled to C$1.29 billion, or 59 Canadian cents per share, while adjusted core profit from its liquids pipelines business fell 4.4%.
