Stock Ticker

  • Loading stock data...

Enbridge Inc (USA) (NYSE:ENB) Project To Start Line 9B Oil Pipeline Gets Struck In A National Energy Board Order

Boston, MA 10/10/2014 (wallstreetpr) – Enbridge Inc (USA) (NYSE:ENB) will have to wait to wait for around three months more before it starts operating the Line 9B oil pipeline. The National Energy Board has asked the company to take a slew of measures to ensure safety of all major waterways before the Board grants permission for operating the pipeline.

As part of the final stage of approval before commencing operations with the pipeline, Enbridge Inc (USA) (NYSE:ENB) has applied to seek the permission of the National Energy Board and had hoped to get the pipeline running by November this year.

The National Energy Board has asked the company to first identify the major water bodies that the pipeline will be crossing and ensure adequate safety measures like valves for shut-off within the distance of a kilometre on both side of the water crossing.

The Board had noted that the company had failed to install the safety valves on all the crossings and only 6 of the 104 crossings have safety valves installed on both the sides.

Meanwhile, Adam Scott from the Environmental Defence, which is one of the groups opposing the pipeline, feels that it is very much necessary to have these valves installed as in the absence of these valves Enbridge Inc (USA) (NYSE:ENB) would fail to stop an unfortunate oil spill even if the company shuts-off the pipeline.

Enbridge Inc (USA) (NYSE:ENB) has also been part of a major regulatory enquiry in the past when one of its pipelines had ruptured and had resulted in a spill-off of nearly 3.3 million litres of diluted bitumen into the waters of the Kalamazoo River.

The company has almost completed work on reversal of the 639 km pipeline. The project also involves increasing the capacity of the pipeline to nearly 300,000 barrels per day.

Published by Flavia Carruth

Hi, I am Flavia and have done my MBA with finance as specialization and a Bachelor in Economics with 4 years of experience as Financial Analyst in leading Software Firm. I have passion for article writing, report making and stock market Analysis.

Recent Stories

Sponsored Content

Sign Up To Get Our Latest Stocks Alerts