Enterprise and Enbridge to Proceed Seaway Crude Oil Pipeline
Enbridge Inc. (NYSE:ENB) (TSX:ENB) and Enterprise Products Partners L.P. (NYSE:EPD) today announced that they have secured capacity commitments from shippers to proceed with an expansion of the Seaway Pipeline that will more than double its capacity to 850,000 ("BPD") by mid-2014. During the supplemental binding open commitment period, Enterprise and Enbridge received additional commitments with terms ranging from five to 20 years that support construction of a 512-mile, 30-inch diameter twin (a parallel line) along the route of the Seaway Pipeline, adding 450,000 barrels per day ("BPD") of capacity to the existing system. This capacity can be cost-effectively expanded on a timely basis with the addition of incremental pump stations.
Enbridge also announced today plans to proceed with an…
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