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Enbridge (New York Stock Exchange:ENB) said Monday that the Canada Energy Regulator approved the Mainline toll agreement that sets out how tolls will be determined for shippers until the end of 2028.
The agreement, negotiated with producers, refiners, integrated shippers, government entities and industry associations, establishes rates for shipments of crude oil liquids that They start in Western Canada and deliver throughout Canada and North America.
The tolls went into effect provisionally on July 1 and the overall agreement is effective retroactively from July 1, 2021, the company said.
Although shipping demand on Mainline has exceeded capacity recently, pressure on the network is expected to ease once the Trans Mountain expansion project is operational, which appears to be on track to begin in the second quarter.
The Mainline network operated by Enbridge (ENB) is the largest pipeline system in Canada, representing approximately 70% of total pipeline transportation capacity from Western Canada.
