Enbridge Energy Partners and Phillips 66 Negotiate Deal for Unit Train Loading at Enbridge Berthold, North Dakota, Rail Facility
HOUSTON, TX -- (Marketwire) -- 03/20/13 -- Enbridge Rail (North Dakota) LLC, an affiliate of Enbridge Energy Partners, L.P. (NYSE: EEP) ("the Partnership"), and Phillips 66 (NYSE: PSX) have agreed to a three-year deal for unit train loading of Bakken shale crude oil at the Enbridge Berthold, North Dakota, terminal beginning in May 2013, with volumes ramping up to 35,000 to 40,000 barrels per day (BPD) by November 2013.
The Enbridge Berthold Rail Project integrates the Partnership's North Dakota Pipeline System with an 80,000 BPD rail facility. The Berthold facility can accommodate up to three unit trains at any given time and is located adjacent to the Enbridge North Dakota Storage facilities, which have an ultimate capacity of 2.2 million barrels of contract storage.
"Our Berthold Rail Project complements a series of expansions the Partnership has undertaken to expand take-away capacity from North Dakota. It integrates a near-term transportation option for high-quality Bakken crude into Enbridge and the Partnership's expanding portfolio of pipeline projects that access premium markets across the United States, including Enbridge affiliate, Enbridge Rail (Philadelphia) L.L.C.'s joint venture rail project near Philadelphia," said Mark Maki, President of the Partnership. "Importantly, it allows producers and shippers the ability to continue to grow their business while we develop the next phase of pipeline expansions on the Enbridge North Dakota System."
According to Phillips 66, the Bakken crude oil loaded on these unit trains through the Enbridge Berthold facility will be transported to Phillips 66 refineries on the West and East Coasts.
About Enbridge Energy Partners, L.P.
Enbridge Energy Partners, L.P. (www.enbridgepartners.com) owns and operates a diversified portfolio of crude oil and natural gas transportation systems in the United States. Its principal crude oil system is the largest transporter of growing oil production from western Canada. The system's deliveries to refining centers and connected carriers in the United States account for approximately 15 percent of total U.S. oil imports, while deliveries to Ontario, Canada satisfy approximately 70 percent of refinery demand in that region. The Partnership's natural gas gathering, treating, processing and transmission assets, which are principally located onshore in the active U.S. Mid-Continent and Gulf Coast areas, deliver approximately 2.5 billion cubic feet of natural gas daily. Enbridge Partners is recognized by Forbes as one of the 100 Most Trustworthy Companies in America.
Enbridge Energy Management, L.L.C. (www.enbridgemanagement.com) manages the business and affairs of the Partnership, and its sole asset is an approximate 16 percent interest in the Partnership. Enbridge Energy Company, Inc., an indirect wholly owned subsidiary of Enbridge Inc. of Calgary, Alberta, (NYSE: ENB) (TSX: ENB) (www.enbridge.com), is the general partner of the Partnership and holds an approximate 21 percent interest in the Partnership.