Newspaper article The Canadian Press

Line 3 Pipeline Delays Make Oilsands Expansion Unlikely, MEG Energy Says

Newspaper article The Canadian Press

Line 3 Pipeline Delays Make Oilsands Expansion Unlikely, MEG Energy Says

Article excerpt

Line 3 delay puts oilsands expansion on hold

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CALGARY - The CEO of MEG Energy Corp. says a one-year delay in Enbridge Inc.'s Line 3 pipeline replacement project makes it highly unlikely it will approve an option to spend about $75 million to complete an expansion of its Christina Lake oilsands project in northern Alberta.

Derek Evans says about 60 per cent of the $275-million cost of the expansion has already been invested and it will take about a year to bring into production once approved, but there's no point in doing so if there's no pipeline capacity to carry the oil to market.

Last week, Enbridge said permitting delays in Minnesota meant its Line 3 project, expected to add 370,000 barrels per day of export capacity of Canadian crude, won't open until the second half of 2020, a year later than expected. …

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