Enbridge Inc. (Enbridge) announced today that its wholly owned subsidiary, Enbridge Pipelines Inc. (EPI), has filed a regulatory application with the National Energy Board (NEB) for the construction and operation of the CDN$300 million Line 4 Extension Project.
Enbridge's Line 4 Extension Project is designed to eliminate a potential capacity bottleneck on the mainline system between Edmonton, Alberta and Hardisty, Alberta. The project involves the construction of 85 miles (136 kilometres) of 36-inch segments that will connect existing idle 48-inch pipe segments between Edmonton and Hardisty and move the origination point of Enbridge's current highest capacity line, Line 4, from Hardisty back to Edmonton. The capacity of the Line 4 Extension will be 880,000 barrels per day to match current Line 4 capacity.
The application sets out the tolling principles and risk and return parameters agreed to with shippers and is accompanied by a letter of support from the Canadian Association of Petroleum Producers. Enbridge is progressing with land access, engineering and initial procurement commitments to facilitate commencement of construction in 2008. The Line 4 Extension will be integrated with, and form part of the existing Enbridge Mainline liquid pipeline system in Canada owned by Enbridge Pipelines Inc., and is expected to be in service by early 2009, subject to regulatory approvals.
Enbridge Inc., a Canadian company, is a leader in energy transportation and distribution in North America and internationally. As a transporter of energy, Enbridge operates, in Canada and the United States, the world's longest crude oil and liquids pipeline system. The Company also has international operations and a growing involvement in the natural gas transmission and midstream businesses. As a distributor of energy, Enbridge owns and operates Canada's largest natural gas distribution company, and provides distribution services in Ontario, Quebec, New Brunswick and New York State. Enbridge employs approximately 5,000 people, primarily in Canada, the United States and South America. Enbridge's common shares trade on the Toronto Stock Exchange in Canada and on the New York Stock Exchange in the United States under the symbol ENB. Information about Enbridge is available on the Company's website at www.enbridge.com.
Certain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast" and similar expressions are intended to identify such forward-looking statements. Although Enbridge believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of risks and uncertainties pertaining to operating performance, regulatory parameters, weather, economic conditions and commodity prices. You can find a discussion of those risks and uncertainties in our Canadian securities filings and American SEC filings. While Enbridge makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Except as may be required by applicable securities laws, Enbridge assumes no obligation to publicly update or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.
Contact:
Contacts:
Enbridge Inc.
Bob Rahn
Investor Relations
(403) 231-7398
Email: bob.rahn@enbridge.com
Enbridge Inc.
Jennifer Varey
Media
(403) 508-6563
Email: jennifer.varey@enbridge.com
Website: http://www.enbridge.com
Source: Enbridge Inc.
Your Ads At Here
Enbridge Files Regulatory Application for CDN$300 Million Line 4 Extension Project
8:22 AM | company, drilling, mining exploration, oil, tradingRelated Posts by Categories
company
- Exxon Argues for Alaskan Oil Lease
- China's LPG imports hit 6.89 mln tons in 2007
- China Huaneng the winner in race to buy Tuas Power
- Kuwaiti firm buys shares in Sudanese oil Petrodar
- Native Leader Serving Six Months for Opposing Mine
- Chevron Corporation Financial Analysts
- ConocoPhillips Describes Business Strategies Intended to Deliver Growth and Enhance Shareholder Value
- Oil, gas exploration gets costlier after govt clarifies ship rental tax
- Coastal likely to clinch new offshore support vessel orders
- Troop surge won't stop Iraq oil fraud, insurgency: leading Democrat
- CORRECTED - Oil prices rising due to speculation-OPEC president
- Victoria Petroleum Announces Growler Oilfield Commences Production PEL104, Cooper Basin
- Cairn plans more exploration in B'desh after gas find
- Panda Energy to build natural gas fueled power plant in Sherman
- Rising oil prices spread beyond gas
- Texas pump prices hit record highs
- Offshore oil boom business for isle shipyards
- Crude oil price rising: Need to reduce consumption
- Oil gives up around a dollar on profit-taking, US recession fears
- Mining Oil and Gas Exploration New Investment in India
- Stocks tumble as Bear Stearns liquidity crisis unnerves investors
- Berry Petroleum says it's being investigated for 2,500-barrel spill
- Edge Petroleum Swings to 4th-Qtr Loss, Hurt by Volatile Commodity Prices and Higher Costs
- Central Petroleum Provides 140308 Exploration Update
- Pilgrim Petroleum Announces Update in Operations for Q1 2008
mining exploration
- Growth Rate of China's Industrial Profit Decreases
- Rise in Oil Prices Helps Fuel Stock Gains
- Oil Prices Begin the New Year by Slipping 4%
- Iraq to Open More Oil Fields to Bidding
- Exxon Argues for Alaskan Oil Lease
- China's LPG imports hit 6.89 mln tons in 2007
- Kuwaiti firm buys shares in Sudanese oil Petrodar
- Native Leader Serving Six Months for Opposing Mine
- Chevron Corporation Financial Analysts
- ConocoPhillips Describes Business Strategies Intended to Deliver Growth and Enhance Shareholder Value
- Oil, gas exploration gets costlier after govt clarifies ship rental tax
- Coastal likely to clinch new offshore support vessel orders
- Troop surge won't stop Iraq oil fraud, insurgency: leading Democrat
- CORRECTED - Oil prices rising due to speculation-OPEC president
- Victoria Petroleum Announces Growler Oilfield Commences Production PEL104, Cooper Basin
- Cairn plans more exploration in B'desh after gas find
- Panda Energy to build natural gas fueled power plant in Sherman
- Rising oil prices spread beyond gas
- Texas pump prices hit record highs
- Offshore oil boom business for isle shipyards
- Crude oil price rising: Need to reduce consumption
- Oil gives up around a dollar on profit-taking, US recession fears
- Mining Oil and Gas Exploration New Investment in India
- Stocks tumble as Bear Stearns liquidity crisis unnerves investors
- Berry Petroleum says it's being investigated for 2,500-barrel spill
drilling
- Iraq to Open More Oil Fields to Bidding
- Anadarko Petroleum appoints senior vice president
- Total Mining and Oil Exploration, acquires 40 pct stake in new deep offshore concession in Nigeria
- Montello Suspends Drilling Operations After Encountering Hydrocarbons in Morgan Highpoint # 3 Test Well
- SAGA Oil ASA: Fourth Quarter 2007 Report
- TransGlobe Energy Slides To Loss In Q4 - Update
- Chevron Corp. to start work on big Gulf of Thailand gas project
- Profit-taking pulls oil back from $103
- Alberta Royalty Increase Seen Hurting Small Producers (Update1)
- 6 oil workers kidnapped in Nigeria
- PetroSA Makes Plans for New Oil And Gas Facilities
- CNX Gas Reports Results, Including Record Frac Production in Virginia
- uncan Energy Partners Reports Third Quarter Results
- Gazprom Chooses StatoilHydro to Participate in $30 Billion Gas Project in the Barents Sea
- Occidental Petroleum "hold," target price raised
- Majestic Oil & Gas, Inc Drilling Wildcat Natural Gas Well in Northern Montana
- Atlas America, Inc. Declares Cash Dividend of $0.05 per Share
- Lions Petroleum Inc.: Phase One Financing Agreement Signed
- Nepal Rises Petroleum Prices To Curb Losses At State Firm
- Crude oil futures surge almost $3, back above $90
- Delta Petroleum Corporation Provides Update on Operating Activities
- Chavez Says Venezuela State Oil Company PDVSA to Expand Work Force
- Oil Drilling : Small Oil Co. Makes Big Arctic Gamble
- Oil prices slip despite supply news
- Oil, gas drilling not expected to ease up