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News Breaks
March 21, 2013
12:41 EDTENBEnbridge to provide pipeline, terminaling services to proposed AOC project
Enbridge announced that it has entered into an agreement to provide pipeline and terminaling services to the proposed Athabasca Oil Corporation Hangingstone Oil Sands Project. The Hangingstone Project will be the ninth oil sands project to be connected to Enbridge's regional system. Enbridge will construct a new 50-kilometer, 16-inch diameter pipeline from the Hangingstone Project to Enbridge's Cheecham Terminal, as well as completing modifications at Cheecham to support the incremental production. The project has an estimated cost of up to approximately $200M subject to finalization of scope, which will provide an initial capacity of 16,000 barrels per day with provisions for expansion to accommodate up to a further 60,000 bpd from Phase 2 which is committed to the Enbridge regional system if sanctioned. The Phase I facilities are expected to be in service in the latter half of 2015. Under the terms of the agreement, Enbridge will also provide pipeline transportation services to Edmonton on its Regional Oil Sands System for up to 16,000 bpd of diluted bitumen produced from Phase 1 of the Hangingstone Project. The initial term of the pipeline and terminaling agreement is 25 years, with AOC having the right to extend the agreement in successive five-year terms for a total contract life of 45 years. Enbridge foresees filing an application with the Energy Resources Conservation Board and other regulatory authorities in May. Subject to the receipt of regulatory and environmental approvals, it is anticipated that the Project would begin right-of-way clearing in early 2014 and pipeline construction in the winter of 2014/2015.
News For ENB From The Last 14 Days
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April 14, 2014
10:02 EDTENBOn The Fly: Analyst Downgrade Summary
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06:00 EDTENBEnbridge downgraded to Neutral from Outperform at Credit Suisse
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April 4, 2014
17:18 EDTENBEnbridge to re-export Canadian oil, Reuters says
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April 3, 2014
08:02 EDTENBCanadian Association of Petro Producers & Scotiabank co-host a symposium
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