BISMARCK, N.D. (AP) — A Canadian company is inviting oil producers to bid on rights to use the largest-capacity pipeline proposed to date to transport North Dakota crude.
Calgary, Alberta-based Enbridge Energy is proposing the $2.6 billion, 612-mile Sandpiper pipeline to carry 225,000 barrels of oil daily to a hub in northern Minnesota and 375,000 barrels to one in northwestern Wisconsin.
The company on Tuesday announced a so-called open season, which is a period of courting gas producers to secure shipping agreements. The company says oil shippers have until Jan. 24 to commit to the project.
Enbridge announced Monday that Houston-based Marathon Petroleum Corp. agreed to pay 37.5 percent of the project's construction in exchange for 27 percent equity interest.