Enbridge Inc. will receive a refund of C$14.7 million in fees paid to Canada's federal regulators for the suspended Northern Gateway oil sands pipeline project, the Canadian Press reported Dec. 27.
The fees Enbridge paid to the National Energy Board were for monitoring the project's construction and operation, the report said. Enbridge requested the refund earlier in the year.
The project was estimated to cost C$7.9 billion when it received approval from the board in 2013, and Enbridge still has C$373 million in lost costs, according to the report.
The 525,000-barrel-per-day pipeline system was designed to carry diluted bitumen from Alberta's oil sands to a port on the northern coast of British Columbia. In 2016, a court ruling nullified the project's approval, and the National Energy Board did not extend the deadline for the project to begin construction.