DOW JONES NEWSWIRES
Enbridge Inc. (ENB, ENB.T) said it has secured funding for $2.6
billion in additional pipeline projects linking western Canadian
oil to eastern markets, while Enbridge Energy Partners LP (EEP)
said it will spend $360 million to expand its crude-oil mainline
system.
Enbridge said its Eastern Access expansion projects will include
the expansion of its Toledo pipeline, which connects with the
Enbridge mainline in Stockbridge, Mich., and serves refineries at
Toledo, Ohio, and Detroit, and a rereversal of its Line 9B from
Westover, Ontario to Montreal to serve refineries in Quebec. The
company previously announced plans for a rereversal of Line 9A from
Sarnia, Ontario to Westover.
The Eastern Access Line 9 rereversal remains subject to
regulatory approval and a portion of supporting mainline expansions
remains subject to approval by shippers.
Enbridge Energy said the expansion of its Lakehead System
between its origin near Neche, North Dakota, and its expanding hub
in Flanagan, Ill. includes increasing capacity on its existing
Alberta Clipper pipeline and its Southern Access pipeline. These
projects only require the addition of pumping horsepower and
crude-oil tanks at existing sites with no pipeline construction,
Enbridge said. The expansions, which are designed to increase
deliveries to refinery markets in the upper Midwest, eastern Canada
and the U.S. Gulf Coast, are expected to be available for service
in mid-2014.
Enbridge shares closed at $39.54 Wednesday and were mostly
inactive after hours. Enbridge Energy Partners shares slipped by
two cents to $29.67 after hours.
-By Nathalie Tadena, Dow Jones Newswires; 212-416-3287;
nathalie.tadena@dowjones.com