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If the open season translates into binding commitments, ENB could accumulate toll revenues and expand its rate base. The non-binding nature tempers near-term upside; history shows many open-season projects either materialize with favorable economics or stall, so the impact hinges on subsequent take-up and capex authorization.
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Enbridge announced a non-binding open season for its West Texas Express gas pipeline, aimed at moving Permian gas west from the Waha area to El Paso markets. The development could expand ENB's gas-transport footprint and unlock potential toll-based cash flow if commitments materialize. However, timing, costs, and market uptake remain uncertain, limiting near-term upside until milestones materialize.
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