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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.