Enbridge to build pipeline for Imperial's Kearl
CALGARY, Alberta, June 22 (Reuters) - Enbridge Inc (ENB.TO) said on Monday it won the right to build a pipeline system serving Imperial Oil Ltd's (IMO.TO) Kearl oil sands project, though the cost and size of the line have yet to be finalized.
Enbridge, Canada's No. 2 pipeline company, offered few details on the scope or timing of the line.
A spokeswoman for the company said the project would likely be built in phases.
Kearl, the first Canadian oil sands project to be sanctioned since oil prices plunged late last year, is expected to produce 110,000 barrels of tar-like bitumen a day when complete in 2012, with later expansions pushing output to more than 300,000 barrels per day
"We're pleased to have a project of this size," said Paula Leslie, a spokeswoman for the company. "Given the economic times we are really pleased to hear that Imperial Oil is going ahead."
Leslie said the first phase of the line would run from the Kearl site north of Fort McMurray, Alberta, to an existing terminal south of that city that serves other oil sands projects.
Enbridge shares fell 28 Canadian cents to C$38.90 early on Monday on the Toronto Stock Exchange. ($1=$1.15 Canadian) (Reporting by Scott Haggett; Editing by Frank McGurty)
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