Seeking Alpha

MDU Resources seeks more customers for proposed Bakken gas pipeline

  • MDU Resources (MDU) says it is looking for more natural gas producers to sign up to use its planned $650M Dakota pipeline that would transport the fuel through North Dakota to Minnesota.
  • MDU in January launched a 120-day period for prospective customers of the pipeline, the largest project in the company's history, to sign supply agreements to transport natural gas.
  • The open season period ends May 30, and MDU then will begin deciding whether to build the pipeline; permitting alone could take two years, and construction should then take six to 12 months, CEO Dave Goodin says.
  • Also, Goodin says MDU, along with Calumet Specialty Products Partners (CLMT), is focused on finishing the new Bakken refinery but has no current plans to build a second one.
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