Canadian pipeline giant Enbridge (ENB.TO) isn’t letting the newly imposed 10% tariff on Canadian crude slow it down. The company has unveiled a $2 billion investment in its Mainline network through 2028, reinforcing its commitment to crude oil infrastructure even as the sector faces fresh U.S. trade barriers.
Mainline serves as the backbone of North American crude transport, moving vast quantities of light and heavy crude from Alberta to refineries across Canada and the U.S. Midwest. Enbridge transports 40% of all North American crude, making its multi-billion-dollar upgrades a significant industry development.
CEO Gregory Ebel remains bullish on Enbridge’s expansion, telling investors the company has “approximately $50 billion of combined new growth opportunities through 2030.” This includes not just crude oil investments but also natural gas projects like Birch Grove, a planned 179-million-cubic-feet-per-day expansion of its Westcoast Pipeline, expected to go online in 2028.
The timing of this announcement is notable, as Trump’s new tariffs on Canadian crude imports take effect today, potentially adding costs to an already tight market. However, Enbridge has downplayed concerns, stating in its last earnings call that the financial impact will be negligible—though the long-term effects as refiners pass costs downstream remain uncertain.
In addition to Mainline, Enbridge is investing $700 million in the T15 project in North Carolina, expanding a natural gas pipeline to double deliveries to Duke Energy’s Roxboro plant by 2028.
Despite the tariff headwinds, Enbridge is focused on long-term energy demand, betting that crude and natural gas will remain vital for decades to come.
As of late morning trading, Enbridge’s stock was down 1.74% and has fallen over 4% in the past 30 days.