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Feb 19 (Reuters) - Enbridge Inc , Canada's largest pipeline company, reported a higher-than-expected quarterly profit and said it would defer C$5 billion in capital expenditure planned for this year and the next to 2018 as two pipelines are delayed.
Enbridge's U.S. arm, Enbridge Energy Partners LP, said on Tuesday the Sandpiper and Line 3 replacement pipeline projects to Wisconsin were delayed to 2019 from 2017 to allow for completion of environmental reviews and permitting in Minnesota.
The Sandpiper project is intended to supply crude oil from North Dakota to refineries located in the U.S. Midwest and eastern Canada. The Line 3 Replacement project begins in Alberta and ends in Wisconsin.
Enbridge has a C$26 billion commercially secured capital program through 2019, of which about C$8 billion has already been funded and brought into service through the end of 2015, the company said on Friday.
Enbridge's Mainline system, which moves the bulk of Canadian crude exports to the United States, shipped an average of 2.2 million barrels of oil per day in the fourth quarter, compared with 2.1 mmboe/d a year earlier.
Revenue rose about 1 percent to C$8.91 billion ($6.5 billion).
Net income attributable to shareholders rose more than fourfold to C$378 million, or 44 Canadian cents per share, in the quarter ended Dec. 31.
Excluding items, the company reported a profit of 58 Canadian cents per share, above analysts' average estimate of 52 Canadian cents, according to Thomson Reuters I/B/E/S. ($1 = 1.3769 Canadian dollars) (Reporting by Manish Parashar and Amrutha Gayathri in Bengaluru; Editing by Don Sebastian)
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