Enbridge to Provide Additional Facilities at Athabasca Terminal for Suncor

abarrelfull wrote on 30 Sep 2012 08:32
Tags: canada enbridge n-america suncor terminal

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Enbridge Inc. (TSX:ENB) (NYSE:ENB) announced today that it has entered into an agreement with Suncor Energy Oil Sands Limited Partnership (Suncor) to expand the existing infrastructure at the Enbridge Athabasca Terminal to accommodate the incremental bitumen volumes from Suncor's Firebag 3 and 4 developments. The approximately $150 million expansion is expected to be in-service in the second quarter 2013.

Enbridge will construct a new 350,000 barrel tank as well as additional infrastructure including new booster pumps, meters and modifications to existing piping and manifolds. To meet Suncor's required in-service date, Enbridge began construction in July 2011.

Suncor has agreed to underpin Enbridge's investment in these facilities through a long-term Services Agreement, during which Enbridge recovers all operating costs, a return on equity and all of its invested capital.

"We're pleased to further strengthen our relationship with Suncor by delivering timely and innovative terminalling and transportation services," said Steve Wuori, President, Liquids Pipelines and Major Projects, Enbridge Inc.

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 sand developments to mainline pipelines and increase capacity for current customers. Enbridge's Regional Oil Sands Infrastructure includes the Athabasca and Waupisoo pipeline systems, which currently connect six producing oil sands projects, and which, through commercially secured expansions, will connect eight producing oil sands projects by 2014. 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
• Enbridge Athabasca has a new crude oil pipeline expansion project currently underway called the Athabasca Pipeline Twinning Project that, once completed, will provide transportation service for increased oil production in the Kirby Lake area.

Waupisoo Pipeline:

385-kilometre (237-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

• Enbridge to Provide Additional Facilities at Athabasca Terminal for Suncor

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