This story is being reported at many sources. This one is
from Reuters:
Enbridge Inc
said on Monday that Marathon Petroleum Corp agreed to
take a stake and become the main shipper on the company's $2.6
billion Sandpiper pipeline project, which will take crude oil
from North Dakota's Bakken field to U.S. refiners.
Enbridge, Canada's largest pipeline company, said in a
release that Marathon will pay 37.5 percent of Sandpiper's cost
in exchange for a 27 percent interest in the company's North
Dakota system.
From the Fargo Forum:
The North Dakota Public Service Commission, a three-member panel that
oversees utility projects, said the pipeline is the biggest project yet
to move oil from the rich Bakken and Three Forks formations in the
western part of the state.
North Dakota has more than doubled its
oil production in the past two years, closing in on a million barrels of
oil a day. But due to the lack of pipeline capacity in the state, about
61 percent of the state’s daily oil production is being shipped by
rail.
Enbridge operates
about 50,000 miles of pipelines in North America, and several hundred
miles of pipelines in North Dakota, including one that runs between
Minot, N.D., and Clearbrook, Minn. The line, built in 1962, has the
capacity to ship 210,000 barrels of North Dakota crude daily, or about
8.8 million gallons.
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