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As part of Enbridge’s overall strategy to improve market access and boost energy security, Enbridge Energy Partners, L.P. (EEP), has announced an agreement to acquire an equity interest in the Bakken Pipeline System.
As announced on Aug. 2, 2016, EEP and Marathon Petroleum Corporation (Marathon) have formed a new joint venture, which has entered into an agreement to acquire from an affiliate of Energy Transfer Partners, L.P. and Sunoco Logistics Partners, L.P. a 49 percent equity interest in the holding company that owns 75 percent of the Bakken Pipeline System.
Under that arrangement, EEP and Marathon would indirectly hold 75 percent and 25 percent, respectively, of the joint venture’s 49 percent interest in the holding company of the Bakken Pipeline System. The purchase price of EEP’s effective 27.6 percent interest in the Bakken Pipeline System is US$1.5 billion.
The Bakken Pipeline System consists of two projects—the Dakota Access Pipeline (DAPL), and the Energy Transfer Crude Oil Pipeline (ETCOP).
The acquisition extends the reach of Enbridge’s existing crude oil and liquids pipeline network, and fulfills key strategic priorities for Enbridge:
The Bakken Pipeline System entered service during the second quarter of 2017.
Dakota Access Pipeline (DAPL) Project
The Dakota Access Pipeline, a new 30-inch-diameter pipeline, will originate from six locations in the Bakken/Three Forks production area of North Dakota, and travel about 1,172 miles to market centers in Patoka, IL.
DAPL is expected to initially deliver 470,000 barrels per day (bpd) of crude oil, with potential for expansion to 570,000 bpd.
Construction of terminals began in January 2016. Mainline pipeline construction began in May 2016.
Energy Transfer Crude Oil Pipeline (ETCOP) Project
ETCOP, a converted natural gas pipeline, travels from Patoka, IL, to the Sunoco Terminal in Nederland, TX. Formerly one of the Trunkline pipelines, the ETCOP line consists of 62 miles of new 30-inch-diameter pipe, 686 miles of converted 30-inch-diameter pipe, and 40 miles of converted 24-inch-diameter pipe.