Canada's Enbridge is asking oil shippers to sign at least eight-year contra...
WINNIPEG, Manitoba/CALGARY, Alberta - Canada’s Enbridge is asking oil shippers to sign at least eight-year contracts to move crude on its Mainline pipeline network, as it proposes to shift away from a monthly allocation system, people with knowledge of the matter told Reuters.
The company declined, in an email, to confirm the minimum term it is seeking, saying it is commercially sensitive information. “If there is lack of pipe capacity, obviously the pipelines are in control and can dictate terms,” said Chief Executive Rob Morgan of Cona Resources Ltd, which produces up to 15,000 barrels of oil equivalent per day in Saskatchewan.Enbridge spokesman Jesse Semko said Enbridge hopes to meet the needs of all industry participants, but added that small producers account for an “extremely small” percentage of Mainline volume.
Shippers currently nominate how many barrels they wish to move monthly. Since demand always exceeds capacity, Enbridge rations space. “ is magnitudes larger than some of the other pipelines and it’s the backbone of Canadian shipments,” said Saskatchewan Energy Minister Bronwyn Eyre. “That for Saskatchewan producers, smaller producers, is a real concern. It’s the unknown of what might mean.”
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