MPC Will Fund Portion Of $2.6B Enbridge Crude Oil Pipeline

Law360, New York (November 26, 2013, 2:51 PM EST) -- Enbridge Inc. said Monday that Marathon Petroleum Corp. will be the anchor shipper for its planned $2.6 billion Sandpiper crude oil pipeline and has agreed to fund 37.5 percent of the project in exchange for a 27 percent stake in Enbridge's North Dakota feeder system, which will integrate the new pipeline.

The Sandpiper project, consisting of about 560 miles of pipeline, will run a 375-mile line from Enbridge’s Beaver Creek Station in Tioga, N.D., to Clearbrook, Minn., mirroring an existing pipeline, with a new pipeline running...
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