Midstream - Pipelines | Top Story
Enbridge Locks Up Marathon for $2.6B Sandpiper Pipeline
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Enbridge Energy Partners, L.P. and Enbridge Inc. has reported that Marathon Petroleum Corporation (MPC) has been secured as an anchor shipper for the $2.6 billion Sandpiper Pipeline Project component of Enbridge's overall $6.2 billion Light Oil Market Access 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…
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