The company said it would expand the Cold Lake and Polaris pipelines in northern Alberta, adding 820,000 barrels per day of capacity.
The Cold Lake expansion calls for 250 miles of new pipeline to increase the main line capacity at a cost of more than $1.1 billion.
Expansion to the Polar system, the company said, includes 270 miles of pipeline to connect to the Edmonton market for another $1 billion.
"This is a major step forward in the development of Inter Pipeline's oil sands transportation business," said Inter Pipeline Chief Executive Officer David Fesyk.
Operations from some of the expansions are expected as early as 2014.
McPhee, Cokas 'working on their marriage' after affair
Attkisson leaves CBS News, reportedly over network's 'liberal bias'