The Globe and Mail reports in its Friday edition that the company building the Dakota Access pipeline
expects to close the sale of
a minority interest in the project
to Enbridge,
in light of the U.S. government's
approval for its completion.
The Globe's Shawn McCarthy writes that Energy Transfer Partners
has resumed construction at the
disputed site on the Missouri
River in Standing Rock, N.D.,
after receiving a required easement
from the U.S. Army Corps
of Engineers that was under
orders to provide it from
President Donald Trump. The company said it
expected to complete previously
announced debt and equity
financing worth $2.6-billion
(U.S.) "within the next several
days." That includes the sale of
a 37-per-cent interest in the
Bakken pipeline system, which includes Dakota Access, to Enbridge and Marathon
Petroleum that was
announced last August.
When the deal closes,
Enbridge would acquire a 27.6-per-cent interest in the Bakken
properties for $1.5-billion (U.S.), to be
held in its subsidiary Enbridge Energy
Partners.
The deal had been scheduled
to close in the third quarter. In January, Enbridge extended
the deadline to March 31,
saying certain conditions still
had to be met.
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