NEW YORK Enbridge Inc.
and Energy Transfer Partners LP have entered into a
joint-venture agreement to convert one of the three pipelines
making up Energy Transfers 700-mile Trunkline system in
the United States to transport oil instead of natural gas to
the eastern Gulf Coast from an Illinois hub.
"As the project takes advantage
of existing pipe in the ground, we can get it flowing to market
sooner and at a lower cost than a new build," Enbridge
president and chief executive officer Al Monaco said in
comments accompanying the Calgary, Alberta-based companys
fourth-quarter earnings report.
In a similar development, TransCanada Corp., also of
Calgary, recently said that it was considering repurposing
parts of its Canadian mainline natural gas pipeline to carry
crude oil (
amm.com, Feb. 13).