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Enbridge (NYSE:ENB) said Monday the Canada Energy Regulator approved the Mainline toll settlement that establishes how tolls will be determined for shippers through year-end 2028.
The settlement – negotiated with producers, refiners, integrated shippers, government entities and industry associations – sets tariffs for crude oil liquids shipments that start in western Canada and are delivered across Canada and North America.
The tolls were in effect on an interim basis on July 1 and the overall agreement is effective retroactively back to July 1, 2021, the company said.
Although demand for shipping on the Mainline has exceeded capacity recently, pressure on the network is expected to ease once the Trans Mountain expansion project is up and running, which appears to be on track for a Q2 start.
The Enbridge-operated (ENB) Mainline network is Canada’s largest oil pipeline system, accounting for ~70% of the total oil pipeline transportation capacity out of Western Canada.