Enbridge signs tolling deal with shippers for Mainline pipeline system
By The Canadian Press on May 4, 2023.
CALGARY – Enbridge Inc. says it has reached a deal with shippers for tolling on its Mainline pipeline system, which moves over three million barrels a day of crude oil and liquids from Western Canada. The company says the agreement covers both the Canadian and U.S. portions of the Mainline system and will provide customers with a stable, competitive toll relative to competing alternatives. Enbridge says it expects to jointly finalize the settlement with industry and submit an application for approval to the Canada Energy Regulator in the third quarter. It expects the new tolling settlement could be approved and implemented later this year. The new agreement comes after an earlier proposal to fill Canada’s largest oil pipeline network through long-term contracts was rejected by the Canada Energy Regulator in November 2021. The pipeline provides about 70 per cent of the total oil pipeline transportation capacity out of Western Canada. This report by The Canadian Press was first published May 4, 2023. Companies in this story: (TSX:ENB) 9-8
