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File OF-GEN-06 FRR 14 August 2020 To: All Pipeline Companies

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File OF-GEN-06 FRR 14 August 2020 To: All Pipeline Companies File OF-GEN-06 FRR 14 August 2020 To: All Pipeline Companies regulated under the Canadian Energy Regulator Act Commission of the Canada Energy Regulator (Commission) Pipeline Financial Resources Requirements Update on Approval of Financial Resources Plans Background Subsection 138(1) of the Canadian Energy Regulator Act (CER Act) requires pipeline companies to maintain financial resources equal to their absolute liability level. The Pipeline Financial Requirements Regulations (Regulations), which came into force on 11 July 2019, set out absolute liability limits for the non-major oil pipeline companies1 (i.e., all other oil, gas, and commodity pipeline companies). On 29 March 2019, the National Energy Board (NEB) issued the Pipeline Financial Requirements Guidelines (Guidelines). Included in the Guidelines was a schedule for companies to submit their financial resources plans for review and approval. By 16 April 2019, the first Financial Resources Plans from companies with an absolute liability class of Oil Class 2 and 3 were filed with the NEB for review. This was followed by companies with an absolute liability class of Gas Class 1, 2, 3, and 4 filing their Financial Resources Plans. Companies with an absolute liability class of Other Commodity filed their Financial Resources Plans by 11 June 2019. Companies whose Financial Resources Plans were previously approved are listed in Appendix I under the headings “Approved as of” for the following dates: 17 July 2019, 28 August 2019, 18 December 2019, and 3 June 2020. The Commission continues to consider the Financial Resources Plans from Oil, Gas, and Other Commodity companies filed to-date. This letter updates and replaces the Commission’s previous letter dated 3 June 2020. The Commission provides its decisions with regard to the Financial Resources Plans as follows: Category A – Financial Resources Plans approved as filed; and Category B – Financial Resources Plans conditionally approved. …/2 1 Non-major oil pipeline companies are CER-regulated pipeline companies that do not meet the definition of a major oil pipeline. Major oil pipeline companies have the capacity to transport greater than 250,000 barrels of oil per day. Refer to the Pipeline Financial Requirement Guidelines for detailed definitions and additional background on financial requirements. -2- Category A For companies listed in Category A, the Commission is satisfied with the Financial Resources Plans as filed. The Commission approves these Financial Resources Plans and does not require anything further from these companies with respect to this proceeding. A list of the companies in Category A is found in Appendix I. Category B For each company listed in Category B, the Commission approves its Financial Resources Plan, conditional on the company filing certain additional information, documents, or amendments to particular financial instruments, as directed by the NEB’s specific letters to these companies, dated 26 August 2019, and the Commission’s specific letter, dated 3 June 2020. A list of these pipeline companies is found in Appendix II. For companies not listed in either Category A or B, the Commission is still reviewing their submissions at this time. This includes companies that have filed information as directed in their conditional approval. On 4 November 2019, the Commission issued a letter clarifying that certain companies were not required to file an absolute liability limit and financial resources plan as their pipelines were not in service at that time. A list of these companies is found in Appendix III. On 4 November 2019, the Commission identified companies that had not filed their absolute liability limit and/or financial resources plan. An updated list of companies that continue to be in non-compliance is located in Appendix IV. The Commission will order these companies to maintain a certain amount and type of financial resources and/or pursue enforcement options against these companies. The Commission also reminds each company that it has an ongoing obligation to notify the Commission in writing if there are, or if a company has reason to believe there will be, any material revisions to its financial resources or Financial Resources Plan. This includes changes to a company’s financial position, significant draws of credit, or cancellation of or amendments to insurance policies that may put at risk a company’s ability to maintain financial resources equal to its absolute liability limit. Yours sincerely, Original signed by S. Wong for Jean-Denis Charlebois Secretary of the Commission Attachments Attachment to Commission Letter 14 August 2020 Page 1 of 2 Appendix I Category A – Companies with Approved Financial Resources Plans Approved as of 7 August 2020 6720471 Canada Ltd. Canadian-Montana Pipeline Limited Emera Brunswick Pipeline Company Ltd. Many Islands Pipe Lines (Canada) Ltd. Minell Pipeline Ltd. Approved as of 3 June 2020 TAQA North Ltd. Whitecap Resources Inc. Kinder Morgan Utopia Ltd. Maritimes & Northeast Pipeline Management Limited SCL Pipeline Inc. Approved as of 18 December 2019 2193914 Canada Limited AltaGas Holdings Inc. Caltex Resources Ltd. Canadian Border Service Agency Cenovus Energy Inc. Enercapita Energy Ltd. Niagara Gas Transmission Limited Obsidian Energy Ltd. Pembina Energy Services Inc. Pembina Prairie Facilities Ltd. Pouce Coupé Pipe Line Ltd. Souris Valley Pipeline Limited St. Clair Management Inc. Vector Pipeline Limited Westcoast Energy Inc. Veresen NGL Pipeline Inc. Attachment to Commission Letter 14 August 2020 Page 2 of 2 Approved as of 26 August 2019 (C01213) Alliance Pipelines Ltd. ARC Resources Inc. Crescent Point Energy Corp. Enbridge Bakken Pipeline Company Inc. Enbridge Gas Inc. Enbridge Pipelines (NW) Inc. Enbridge Southern Lights GP Inc. on behalf of Enbridge Southern Lights LP Encana Corporation1 Foothills Pipe Lines Ltd.2 Great Lakes Pipeline Canada Ltd.3 NOVA Gas Transmission Ltd.4 Resolute FP Ltd. TransCanada PipeLines Limited Trans Québec & Maritimes Pipeline Inc.5 Approved as of 17 July 2019 (C00567) Canadian Natural Resources Ltd. Husky Oil Operations Limited Kinder Morgan Cochin ULC Montreal Pipe Line Limited Nova Chemicals (Canada) Ltd. 1 The NEB approved Encana’s Financial Resources Plan. The NEB did not approve Encana’s request to remove the Deep Panuke pipeline from Encana’s risk value calculation and to adjust Encana’s absolute liability upon the coming into force of abandonment Order ZO-E112-001-2019. Encana’s proposal may lead to confusion on the date that Encana’s absolute liability limit would be reduced, as all conditions to the abandonment order must first be met to the Commission’s satisfaction. Encana may apply to the Commission for such relief when abandonment activities have been completed and Encana has complied with the relevant conditions. 2 The NEB approved Foothills Pipe Lines Ltd.’s indemnity agreement, as filed on 29 July 2019. 3 The NEB approved Great Lakes Pipeline Canada Ltd.’s indemnity agreement, as filed on 29 July 2019. 4 The NEB approved NOVA Gas Transmission Ltd.’s indemnity agreement, as filed on 29 July 2019. 5 The NEB approved Trans Québec & Maritimes Pipeline Inc.’s indemnity agreement, as filed on 29 July 2019. Attachment to Commission Letter 14 August 2020 Page 1 of 1 Appendix II Category B – Conditionally approved pending changes Conditional Approvals as of 7 August 2020 1057533 Alberta Ltd. Aurora Pipe Line Company Ltd. Centra Transmission Holdings Inc. Champion Pipe Line Corporation Limited ISH Energy Ltd. LBX Pipelines Ltd. Sunoco Pipeline LP Conditional Approvals as of 26 August 2019 and 7 August 2020 Kingston Midstream Westspur Limited Attachment to Commission Letter 14 August 2020 Page 1 of 1 Appendix III Companies not required to file absolute liability limits and/or financial resource plans at this time Bonavista Energy Corporation Bow River Energy Limited Canlin Energy Corporation Commandité gestion energy Windmill DREAM Québec inc. Delphi Energy Corporation ExxonMobil Canada Ltd. Forty Mile Gas Co-op Ltd. Glencoe Resources Ltd. Leucrotta Exploration Inc. Lignite Pipeline Canada Corp Pipestone Energy Corp. SanLing Energy Ltd. / Yoho Resources Inc. Shiha Energy Transmission Ltd. Strategic Oil & Gas (Strategic Transmission) Tamarack Acquisition Corp. Vermilion Energy Inc. Attachment to Commission Letter 14 August 2020 Page 1 of 1 Appendix IV Companies in non-compliance with the CER Act Gear Energy Ltd. Portal Municipal Gas Company Canada Inc. c/o Saskenergy Tidewater Midstream & Infrastructure Ltd. Twin Rivers Paper Company Inc. .
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