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.
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