|By Marketwired .||
|June 25, 2014 05:25 PM EDT||
HOUSTON, TX -- (Marketwired) -- 06/25/14 -- The North Dakota Pipeline Company LLC's Sandpiper Pipeline Project reached a key milestone today as the North Dakota Public Service Commission (PSC) issued its permit approving the project. The permit allows a subsidiary of Enbridge Energy Partners, L.P. (NYSE: EEP), to begin construction of the Sandpiper Pipeline Project as early as July 1, 2014, in the state of North Dakota. Last month, the Federal Energy Regulatory Commission (FERC) granted a declaratory order approving the tariffs structure for the project.
North Dakota Pipeline Company LLC is a joint venture between Enbridge Energy Partners, L.P. and Williston Basin Pipe Line LLC, an indirect subsidiary of Marathon Petroleum Corporation. Marathon Petroleum is funding 37.5 percent of the Sandpiper Pipeline Project and will hold an approximate 27 percent interest in the North Dakota Pipeline Company when the Sandpiper Pipeline is anticipated to be placed into service in early 2016.
"The approval of the Sandpiper Pipeline Project by the North Dakota PSC -- and the approval of the Sandpiper Pipeline tariffs by the FERC on May 15, 2014 -- comes after significant review from shippers, landowners, the affected public and the regulatory bodies involved," said Mark Maki, president of Enbridge Energy Partners, L.P. "It is a great milestone for the state of North Dakota as the Sandpiper Pipeline will have the potential to move more than 20 percent of the Williston Basin's current production. The economy in the region and nation overall continue to benefit from Bakken oil production. This project will help get Bakken product to desirable markets, continuing to bolster economic growth."
The 616-mile Sandpiper Pipeline Project will have the initial capacity to transport up to 225,000 bpd from Beaver Lodge Station, located south of Tioga, North Dakota, to Clearbrook, Minn.; and then 375,000 bpd from Clearbrook to an affiliated Enbridge terminal in Superior, Wisc., for subsequent transfer onto other pipelines to refinery markets in the United States and eastern Canada.
Maki added, "Enbridge and Marathon Petroleum are making a $2.6 billion investment in energy infrastructure with this project alone, meaning good-paying jobs, an economic boost for local communities during construction and significant, long-term tax contributions. In addition, Sandpiper will help alleviate rail congestion and reduce strain on roads and highways by carrying the equivalent of more than 4,000 trucks or 2,000 rail cars every day."
About Enbridge Energy Partners, L.P.
Enbridge Energy Partners, L.P. owns and operates a diversified portfolio of crude oil and natural gas transportation systems in the United States. Its principal crude oil system is the largest pipeline transporter of growing oil production from western Canada and the North Dakota Bakken formation. The system's deliveries to refining centers and connected carriers in the United States account for approximately 17 percent of total U.S. oil imports. Enbridge Partners' natural gas gathering, treating, processing and transmission assets, which are principally located onshore in the active U.S. Mid-Continent and Gulf Coast areas, deliver approximately 2.5 billion cubic feet of natural gas daily. Enbridge Partners is recognized by Forbes as one of the 100 Most Trustworthy Companies in America.
Apr. 30, 2016 05:30 PM EDT Reads: 677
Apr. 30, 2016 04:45 PM EDT Reads: 980
Apr. 30, 2016 04:45 PM EDT Reads: 556
Apr. 30, 2016 04:45 PM EDT Reads: 1,041
Apr. 30, 2016 04:15 PM EDT Reads: 730
Apr. 30, 2016 04:15 PM EDT Reads: 1,025
Apr. 30, 2016 04:15 PM EDT Reads: 1,659
Apr. 30, 2016 04:15 PM EDT Reads: 537
Apr. 30, 2016 04:00 PM EDT Reads: 534
Apr. 30, 2016 03:30 PM EDT Reads: 1,431
Apr. 30, 2016 03:15 PM EDT Reads: 710
Apr. 30, 2016 02:30 PM EDT Reads: 1,698
Apr. 30, 2016 02:15 PM EDT Reads: 1,443
Apr. 30, 2016 02:00 PM EDT Reads: 1,070
Apr. 30, 2016 01:15 PM EDT Reads: 1,519