26 November 2013 01:12 [Source: ICIS news]
HOUSTON (ICIS)--Enbridge has secured Marathon Petroleum as an anchor shipper for the $2.6bn (€1.9bn) Sandpiper Pipeline project, the Canada-based pipeline company announced on Monday.
The Sandpiper Project will expand Enbridge’s North Dakota Bakken shale oil takeaway capacity by 225,000 bbl/day to a total of 580,000 bbl/day.
The project, which will deliver the expanded amount of crude oil to US Midwest refiners, is set to be in service by early 2016.
As part of the deal, US-based Marathon will fund 37.5% of the project in exchange for about a 27% equity interest in the North Dakota pipeline system, Enbridge said.
($1 = €0.74)
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