Canadian Pipeline operator,
) is working on its plan of making the Southern Access Extension
pipeline venture profitable. With this view, the company is
proactively contracting shippers for making volume commitments
for either ten or fifteen year terms in the pipeline through
multiple Open Seasons.
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After a successful response from shippers in its first Open
Season held between the period Dec 12, 2012, to Jan 18, 2013, the
company has announced another. The second open season will start
from Jun 5 and will continue till Jul 19, 2013.
The Southern Access Extension pipeline is a proposed 24-inch
diameter pipeline that would transport crude oil from Flanagan to
Patoka in Illinois. The 165 mile pipeline - with initial capacity
of 300,000 barrels per day (bpd) - would receive crude oil from
Enbridge Energy Partners, L.P.
The pipeline project, under the purview of the company's U.S.
subsidiary Enbridge Pipelines in a build-own-operate (BOO)
fashion, is expected to be operational during the second quarter
The pipeline operator's move comes in the right time as there are
plans to hold another Open Season for shippers for transporting
the aforementioned crude at Patoka to the Eastern Gulf Coast
refinery market. This would be under the purview of
Energy Transfer Equity, L.P.
Energy Transfer Partners, L.P.
Enbridge Inc., a Canadian company, is a leader in energy
transportation and distribution in North America and
internationally. As a transporter of energy, Enbridge operates,
in Canada and the United States, the world's longest crude oil
and liquids pipeline system. The company also has international
operations and a growing involvement in the natural gas
transmission and midstream businesses. As a distributor of
energy, Enbridge owns and operates Canada's largest natural gas
distribution company, and provides distribution services in
Ontario, Quebec, New Brunswick and New York State.
Enbridge Inc. currently has a Zacks Rank #3 (Hold).