Enbridge Holdings (Seaway) LLC, a subsidiary of Enbridge (U.S.) Inc., an affiliate of Enbridge Inc., Calgary, (NYSE, Toronto: ENB) plans to acquire the ownership interest in the Seaway Crude Pipeline Co. from ConocoPhillips, Houston, (NYSE: COP) for $1.15 billion.

The 670-mile pipeline system includes the 500-mile (805-kilometer), 30-inch-diameter long-haul system from Freeport, Texas, to Cushing, Okla., and the Texas City terminal and distribution system serving refineries in the Houston and Texas City areas. The system also includes 6.8 million bbl. of crude-oil tankage on the Texas Gulf Coast and four import docks at two locations.

The line is currently being reversed to go from Cushing to the Gulf Coast, and is expected to have initial capacity of 150,000 bbl. per day by second-quarter 2012.

Following pump-station additions and modifications, anticipated to be completed by early 2013, the capacity of the reversed pipeline will be up to 400,000 bbl. per day in mixed service.`