Enbridge to Invest $0.2 Billion to Expand Sunday Creek Terminal

abarrelfullabarrelfull wrote on 29 Jan 2014 17:16

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Enbridge (TSX:ENB) (NYSE:ENB) today announced that it will construct additional facilities at its Sunday Creek Terminal, located in the Christina Lake area of northern Alberta, to support production growth from the Christina Lake oil sands project operated by Cenovus Energy and jointly owned with ConocoPhillips.

The estimated cost for the expansion is approximately $0.2 billion with a targeted in-service date of Q3 2015. The expansion includes development of a new site adjacent to the existing terminal, construction of a new 350,000 barrel tank with associated piping, pumps and measurement equipment, as well as civil work for a future tank. The existing Sunday Creek Terminal was put into service in August 2011.

"We are pleased to move forward in supporting the planned production growth from the Christina Lake project," said Guy Jarvis, Executive Vice President and Chief Commercial Officer, Liquids Pipelines. "This expansion furthers Enbridge's plans to bring incremental volume from projects in the region to the Athabasca Twin pipeline."

Enbridge will recover all of its invested capital as well as a return on equity through a long-term agreement for the project.

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