abarrelfull wrote on 03 Nov 2013 16:33
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August 26, 2010
Enbridge Inc. (TSX:ENB) (NYSE:ENB) announced today that it has entered into an agreement with Suncor Energy to construct a new, 95-kilometre (59-mile), 30-inch diameter crude oil pipeline (the "Wood Buffalo" Pipeline), connecting the Enbridge Athabasca Terminal, which is adjacent to Suncor's oil sands plant, to the Cheecham Terminal, which is the origin point of Enbridge's Waupisoo Pipeline. The Waupisoo Pipeline delivers crude oil from several oil sands projects to the Edmonton mainline hub.
The new pipeline will parallel Enbridge's existing Athabasca Pipeline between the Athabasca and Cheecham terminals. Suncor's existing commitments on the Athabasca Pipeline will remain in place. An application has been filed with the Alberta Energy Resources and Conservation Board (ERCB); pending regulatory approval, the new line is expected to be in service by mid 2013.
"Suncor was the anchor shipper that enabled our original entry into oil sands regional pipeline and terminaling infrastructure with the Athabasca Pipeline and terminal in 1999," said Stephen J. Wuori, Executive Vice-President, Liquids Pipelines, Enbridge Inc. "Today, our regional system includes both the Athabasca and Waupisoo pipelines providing dual hub capability to both Edmonton and Hardisty; lateral facilities connecting the Mackay River, Surmont, Long Lake and Christina Lake projects to the system; and over 4.4 million barrels of supporting operational tankage."
Today's announcement brings expansions and extensions of Enbridge's Regional Oil Sands System announced over the last year to a total of approximately $1.6 billion.
"We're building new facilities to meet the needs of the Imperial Oil/Exxon Mobil Kearl project, and we recently added Statoil's Leismer project as a shipper on the system. We are fortunate to have Suncor as a shipper, and to benefit from their continued oil sands growth and need for pipeline and terminaling services, including this latest opportunity," said Mr. Wuori. "As the largest operator of oil sands regional infrastructure, and with our corresponding ability to provide favourable and competitive transportation solutions to producers, we expect to see continued attractive investment opportunities of this sort for some time to come."
Enbridge's Regional Oil Sands System At-a-Glance:
Enbridge is the leading pipeline operator in the Fort McMurray to Edmonton/Hardisty corridor and well positioned to tie-in new oil sands developments to mainline pipelines and increase capacity for current customers. Enbridge's Regional Oil Sands Infrastructure includes the Athabasca and Waupisoo pipeline systems, connecting six producing oil sands projects. A map is available at www.enbridge.com.
Athabasca Pipeline:
— 540-kilometre (335-mile) pipeline in operation since March 1999
— Annual capacity of up to 570,000 barrels per day of crude oil (depending on crude viscosity) from the Athabasca and Cold Lake regions of Alberta, south to Hardisty, Alberta
Waupisoo Pipeline:
— 380-kilometre (mile) pipeline system in operation since June 2008
— Annual capacity of up to 600,000 bpd of crude oil (depending on crude viscosity) from Enbridge's Cheecham Terminal to Edmonton
Tankage:
— Largest operator of contract storage facilities at the Hardisty hub with the 3.1 million barrel Hardisty Caverns storage facility, plus the 7.5 million barrel Hardisty Contract Terminal surface storage facility
— More than 4.4 million barrels of operational storage associated with the Waupisoo and Athabasca pipelines and laterals
