Enbridge Inc., plans to optimize a previously announced expansion of its Regional Oil Sands System. The optimization, which has been agreed to with affected shippers, will involve capital cost savings of $0.4 billion in aggregate and lower tolls for the shippers, while maintaining attractive returns on the capital to be invested.

Projects involved in the optimization include the Athabasca Twin Project and the Wood Buffalo Extension Project. Following the optimization and finalization of scope and definitive cost estimates for the projects, Enbridge's commercially secured expansion investments on its Regional Oil Sands System, in-service from 2014 to 2017, will total $5.6 billion. By 2017, Enbridge will connect 11 oil sands projects to regional hubs in Edmonton and Hardisty, Alberta.

Tags: Enbridge Inc.