Enbridge Inc and Enterprise Products Partners LP on Monday signed an agreement to jointly develop a deepwater offshore crude oil export terminal in the Gulf of Mexico capable of loading Very Large Crude Carriers. Both pipeline operators will work to finalize an equity participation agreement that would provide Enbridge an option to purchase ownership interest in Enterprise’s Sea Port Oil Terminal (SPOT), subject to SPOT receiving a deep-water port license, Enbridge said in a statement. The companies would first jointly develop the SPOT project, and depending on how the export market grows, would utilize Enbridge’s Texas COLT deep-water …read more
Source:: Yahoo Finance
