Regulator removes significant hurdle for Line 3
A Minnesota regulator has ruled that a revised environmental impact statement for Enbridge Inc’s Line 3 oil pipeline replacement is adequate, helping to clear a significant hurdle for the long-delayed project .
According to the Financial Post, the Minnesota Public Utilities Commission voted 3-1 to find the revised statement from the state’s Department of Commerce adequate. It was to move on Monday afternoon to consider reissuing a certificate of need and route permit for the project.
Enbridge shares jumped 1.5 per cent, hitting their highest level since May 2017.
Line 3, built in the 1960s, carries oil from the Canadian province of Alberta to Superior, Wisconsin. Because of age and corrosion, it carries less oil than it was designed to transport.
Enbridge has argued that replacing it will reduce the chances of leaks.