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Enbridge picking up Moda Midstream is not breaking news, but it's worth getting a deeper dive into its assets and history.
Enbridge has had its failures trying to establish a meaningful Gulf Coast oil export presence. Cancellations and delays on new builds had them looking to buy.
Price tag is appropriate, and perhaps most importantly Ingleside has an advantage on both price (pipeline interconnectivity, differentials) and cost (VLCC ship access).