Enbridge's $2.6B Sandpiper Project Secures Anchor Shipper,

Loading...
Loading...
Enbridge Energy Partners, L.P.
EEP
and Enbridge
ENB
("Enbridge") today announced that Marathon Petroleum Corporation
MPC
has been secured as an anchor shipper for the $2.6 billion Sandpiper Pipeline Project ("Project") component of Enbridge's overall $6.2 billion Light Oil Market Access Program ("LOMA Program") which was announced on December 6, 2012. The Sandpiper Pipeline Project will be integrated with the Partnership's North Dakota System. MPC will fund 37.5% of the Project in exchange for an approximate 27% equity interest in the North Dakota System.The LOMA Program consists of several distinct projects which will collectively allow an additional 400,000 barrels per day (bpd) of light crude oil from Western Canada, and from the Bakken formation in North Dakota, to access premium markets in Eastern Canada and the U.S. Midwest. The Program includes the 300,000 bpd Southern Access Extension Pipeline from Flanagan to the Patoka, Ill. hub; an 80,000 bpd upsize of the Line 9 reversal project to move crude oil from Sarnia, Ont. to refineries in Ontario and Quebec; and enhancements to the flexibility of Enbridge's mainline in Western Canada. These projects
See full press release
Posted In: NewsGuidanceFinancingContractsLegalManagementGlobal
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...