Major Canadian pipeline operator Enbridge has successfully negotiated a tolling agreement with oil shippers for its Mainline crude pipeline system. 

The successful deal comes after an earlier proposal for long-term contracts was rejected in 2021 by major oil producers like Canadian Natural Resources.

The agreement covers tolls charged on both the Canadian and U.S. portions of Enbridge's Mainline, which transports nearly three million barrels of oil per day from western Canada to refineries in eastern Canada and the U.S. Midwest.

Enbridge's president of Liquids Pipelines, Colin Gruending, expressed satisfaction with the outcome, stating that the settlement advances the company’s track record of cooperation with shippers and industry groups, building on its “27-year history of similar incentive deals on the Mainline itself."   

The agreement has been approved by Enbridge's Board of Directors and has received support from a 37-member industry group representing producers, refiners, and integrated companies.

In addition to the toll agreement, Enbridge recently made other strategic moves in the energy sector. The company purchased a large underground natural gas storage facility in British Columbia from FortisBC for about $295.5 million (C$400 million). 

Last year, Enbridge divested an 11.57% interest in seven pipelines in the Athabasca region of northern Alberta to a group of 23 indigenous communities in a deal worth about $827.3 million (C$1.12 billion).