Enbridge Energy Partners L.P. (EEP) announced a further expansion of the Lakehead System between Neche, North Dakota, and Superior, Wisconsin. The expansion will add an additional 230,000 barrels per day of capacity at an estimated cost of approximately $0.2 billion, and involves increased pumping horsepower, with no line pipe construction. The expansion will require regulatory approvals.
The Lakehead System is held by Enbridge Energy, Limited Partnership or EELP, and this expansion will be included in the Mainline Expansion Joint Funding Arrangement under which 60 percent of the capital will be funded by Enbridge Inc. (ENB,ENB.TO) and 40 percent by Enbridge Energy Partners, with options granted to the Partnership to decrease its economic interest in the expansion project by up to 15 percent and to increase its economic interest by up to 15 percent. Mainline shippers have approved the undertaking of the expansion by EELP on a full cost-of-service basis. The additional expansion is expected to be available for service in 2015.
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