Calgary Herald by Bloomberg's Jeremy Van Bloom.  

Enbridge Inc., Canada’s largest oil pipeline operator, plans to spend $38 billion through 2019 on new projects including liquids and natural gas lines, as well as power generation and gas processing, chief executive Al Monaco said.

“We have so many opportunities, but many come with a higher degree of risk,” he said during an presentation to investors Wednesday in Toronto. Enbridge’s previous spending plan lasted from 2014 to 2018 and had $44 billion of projects.

Enbridge is focusing on expanding “low-cost, incremental” projects like twinning existing pipelines to provide producers with new transportation capacity as they struggle with low crude prices, Monaco said. The company’s $7.5-billion Line 3 replacement is the largest project.  More…