Canadian Market Analysis (Con’t) --Source: Statistics Canada, Preston Estimates

摘要

The approval, by Minnesota regulators, of Enbridge Energy’s Line 3 ReplacementProject was call the “…the best news that the Canadian oil and gas industry has received for along time”. The pipeline will add about 375,000 barrels per day of export capacity into the U.S.when it comes on stream in late 2019 or early 2020, a boost that is expected to help relieve apipeline bottleneck that has resulted in a heavy discount on Canadian heavy oil versus U.S.benchmarks this year. The company estimates the pipeline will be in service in the second halfof 2019, although analysts cautioned it may take until the first quarter of 2020 if substantial civildisobedience delays construction.