The Canadian Association of Energy Contractors (CAOEC) celebrates the completion of Enbridge’s Line 3 Replacement Project. The project will double the line’s export capacity to 760,000 barrels per day, starting October 1, 2021.
Together with high commodity prices for oil, natural gas, and LNG, Line 3’s completion is welcome and encouraging news for investors and Canadians from coast to coast to coast, and another strong signal of recovery for Canada’s energy sector.
“The completion of Line 3 is a milestone for Canada’s energy sector. The additional capacity will help deliver our responsibly developed and affordable energy to global markets,” says CAOEC CEO Mark Scholz.
Line 3 Replacement Project is the first major Canadian oil pipeline expansion 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 temporary full-time equivalent jobs in Canada and contributing $2.87 billion of GDP through the design and construction phases. Energy projects such as Line 3 are vital to Canada’s energy future, and to our economic recovery post COVID-19.
“It is essential that our regulatory environment supports Canada’s best-in-class energy and prioritizes pipeline projects,” explains Scholz. “Countries around the world need clean energy solutions, and Canada should be the first choice in meeting those needs. Now is the time for Canada to be a global energy leader and champion resource projects that get our commodities to market.”