Pipeline Proposals Fail to Finish - KMOT.COM - Minot, ND - News, Weather, Sports

Pipeline Proposals Fail to Finish

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After conducting an open season, two major Bakken pipeline proposals have failed to move forward because of a lack of interest from shippers.

The Dakota Express and the Bakken Crude Express pipelines were proposed to carry 200,000 barrels from North Dakota to markets in Illinois and Oklahoma. Yet both Koch Pipeline Co. And ONEOK did not get enough commitments from companies to send oil through the proposed lines. This is something that could continue as the prices of Bakken crude fluctuate.

"There is a lot of uncertainty in the crude oil pricing markets so if we look around the U.S. we see different crude oil pricing at different destinations. There is some uncertainty which is causing folks to hesitate to committing barrels of oil to certain destinations for a certain amount of time until some of the markets settle out a bit," says N.D. Pipeline Authority director Justin Kringstad.

Kringstad says rail will continue to be the main mode of transportation for oil out of the state, as it gives shippers more options in choosing which market and what price they can get for their oil.

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