The CEO of Enbridge Inc. says the company’s Line 3 and Line 5 pipelines in the United States are “absolutely critical” as each faces ongoing hurdles thrown up by environmental, political and other opponents.
During the Calgary-based energy infrastructure company’s annual general meeting on Wednesday, Al Monaco said Enbridge must continue to fight for those pipelines for its benefit as well as the benefit of the shippers who move products on them and the consumers who need those products.
Enbridge’s Line 5 is facing a looming May 12 shutdown ordered by Michigan Gov. Gretchen Whitmer last fall after accusing the company of violating terms of a 1953 deal that allowed the line to traverse the bottom of the Straits of Mackinac, which connects Lake Michigan and Lake Huron.
Watch below: (From January 2021) Prime Minister Justin Trudeau responded to questions Wednesday regarding the cancellation of the Keystone XL pipeline project, as well as an attempt by Michigan to shut down Enbridge’s Line 5.
Meanwhile, the $9.3-billion Line 3 pipeline replacement project is under construction with a completion target of late this year, despite ongoing protests and court challenges.
Watch below: Some Global News videos about the Line 3 project.
In response to an investor’s question of how much Enbridge spends to defend itself from legal challenges, Monaco said “a lot,” but added that such costs are part of the business now.
“The infrastructure assets we own as a company and the ones we’re developing and replacing, like this, and modernizing, I think are absolutely critical to the energy future no matter what the degree of change in the energy landscape is,” he said.
“But I have to say, this is really part of the business today. We expect to have legal challenges and, frankly, it’s the management team’s job to manage those.”