Referenced Stocks

Enbridge Energy Partners, L.P. to Undertake Additional $0.2 Billion U.S. Mainline Expansion

By Midnight Trader,  January 04, 2013, 08:17:52 AM EDT

Enbridge Energy Partners, L.P. ( EEP ) today announced a further expansion of the Lakehead System between Neche, North Dakota, and Superior, Wisconsin. The expansion will add an additional 230,000 barrels per day of capacity at an estimated cost of approximately $0.2 billion, and involves increased pumping horsepower, with no line pipe construction. The expansion will require regulatory approvals.

The Lakehead System is held by Enbridge Energy, Limited Partnership and this expansion will be included in the Mainline Expansion Joint Funding Arrangement under which 60% of the capital will be funded by Enbridge Inc. (ENB.TO) and 40% by the Partnership, with options granted to the Partnership to decrease its economic interest in the expansion project by up to 15% and to increase its economic interest by up to 15%. Mainline shippers have approved the undertaking of the expansion by EELP on a full cost-of-service basis. The additional expansion is expected to be available for service in 2015.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: EEP



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