MARITIMES & NORTHEAST PIPELINE AND CUSTOMERS ACHIEVE MULTI-YEAR TOLLING AGREEMENT
The settlement provides Maritimes & Northeast's customers with predictable tolls for transporting natural gas on the Canadian pipeline system through 2006 and eliminates the need for costly formal hearing processes during this period. The settlement was reviewed and approved by the National Energy Board on Sept. 17.
"We are very pleased to have a multi-year agreement in place," said Doug Bloom, president of Maritimes & Northeast Pipeline. “This agreement adds certainty for our customers active in this emerging basin."
The streamlined process consisted of settlement discussions with customers and other stakeholders and culminated on June 26 with the positive vote by TTWG members in favour of the agreement, which results in a 2004 Canadian toll set at Cdn $0.6774/GJ (Cdn $0.7147/MMBtu).
Maritimes & Northeast Pipeline and its customers also were successful in reaching negotiated toll settlements in 2001, 2002 and 2003.
The project sponsors of Maritimes & Northeast Pipeline are Duke Energy (75 percent), ExxonMobil (12.5 percent) and Emera Inc. (12.5 percent). Maritimes & Northeast is headquartered in