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Enbridge increases stake
in possible Arctic gas delivery system
Enbridge Inc., Canada’s second largest energy
pipeline company, has tightened its hold on Alliance
Pipeline Ltd., which could be a major delivery
option to the U.S. Midwest for gas from either
the Mackenzie Delta or Alaska.
The Calgary-based company announced today that,
along with Fort Chicago Energy Partners, it has
bought out another U.S. owner of Alliance.
The combined C$406 million deal for Duke Energy
Corp’s 11.8 percent stake in Alliance will leave
Enbridge and Fort Chicago as joint 50-50 owners
of Alliance, a 36-inch diameter pipeline with
capacity of 1.55 billion cubic feet per day from
northwestern British Columbia to Chicago.
Patrick Daniel, president and chief executive
officer of Enbridge, said the new owners will
simplify the governance and flexibility of Alliance
and “pursue a variety of opportunities to enhance
the value of this assets to both shippers and
owners.”
He said Alliance is expected to “play a significant
role in moving northern gas to market later in
the decade.”
Enbridge operates the only oil and gas pipelines
north of the 60th parallel in Canada and, although
it has kept a low-key profile in discussions about
a Mackenzie Valley pipeline it has said that both
the valley and Alaska Highway projects are technically
viable if they proceed as separate ventures.
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