Market Overview

Enbridge to Provide Additional Facilities at Athabasca Terminal for Suncor


Enbridge (NYSE: ENB) announced today that it has entered into an agreement with Suncor Energy Oil Sands Limited Partnership (Suncor) to expand the existing infrastructure at the Enbridge Athabasca Terminal to accommodate the incremental bitumen volumes from Suncor's Firebag 3 and 4 developments. The approximately $150 million expansion is expected to be in-service in the second quarter 2013.Enbridge will construct a new 350,000 barrel tank as well as additional infrastructure including new booster pumps, meters and modifications to existing piping and manifolds. To meet Suncor's required in-service date, Enbridge began construction in July 2011. Suncor has agreed to underpin Enbridge's investment in these facilities through a long-term Services Agreement, during which Enbridge recovers all operating costs, a return on equity and all of its invested capital. "We're pleased to further strengthen our relationship with Suncor by delivering timely and innovative terminalling and transportation services," said Steve Wuori, President, Liquids Pipelines and Major Projects, Enbridge Inc. Enbridge's Regional Oil Sands System At-a-Glance: Enbridge is the leading pipeline operator in the Fort McMurray to Edmonton/Hardisty corridor and well positioned to tie-in new oil sand developments to mainline pipelines and increase capacity for current

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Posted-In: News Guidance Asset Sales Management


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