Enbridge Acquires Additional 13% Interest in Cabin Gas Plant Development

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Enbridge ( ENB ) said today that it has acquired an additional 13.3% interest in the Cabin Gas Plant Development, increasing its ownership in the development to 71% interest.

The development is located 60 kilometers northeast of Fort Nelson, British Columbia in the Horn River Basin, and has two phases that are expected to be in service in late 2012 and in the third quarter of 2014. Upon completion of these phases, ENB's total investment is now expected to be about $1.1 billion.

Shares were up 1.01% to $33.98, but have edged a bit lower since then.



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This article appears in: Investing , Commodities

Referenced Stocks: ENB

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