CALGARY, AB and DULUTH, MN, June 3, 2020 /CNW/ - On February 26, 2020 the Minnesota Pollution Control Agency (MPCA) issued the draft 401 Water Quality Certificate permit for the Line 3 Replacement Project. Following a public comment period, the MPCA announced today that it will conduct a contested case hearing regarding the 401 permit.
The timeline for the contested case hearing will be established after an Administrative Law Judge is assigned to the case. While the MPCA previously stated its intention to meet the US Army Corps of Engineers' August 15, 2020 deadline, that date has been extended to November 14, 2020 which is within the one-year anniversary of our application, as required by statute.
Enbridge Inc. (NYSE: ENB) (TSX: ENB) will continue to work with other permitting agencies towards the timely issuance of the remaining permits in order to allow for the start of construction before year end 2020. We now expect the majority of the remaining US$1.5 billion of capital spending to occur in 2021, with spending related to early construction preparation in 2020. The company will continue to advance pre-construction activities, to ensure an efficient schedule is maintained.
"While the contested case has caused a delay to the permitting process, we believe this additional step will strengthen the MPCA's decision record," said Vern Yu, President of Liquids Pipelines. "We have planned for various permitting scenarios with the objective of accelerating and completing construction of this important safety and maintenance driven project within six to nine months after we receive final permits."
Enbridge's Line 3 Replacement Project is the most studied pipeline in Minnesota's history. It has already undergone an extensive contested case hearing process lasting nearly five years as part of the Minnesota Public Utilities Commission's review and approval of the project. There have been numerous public comment opportunities both written and in-person, including 70 public meetings. The Project's Environmental Impact Statement, Certificate of Need and Route Permit were re-approved by the Commission on February 4, 2020. In addition, Enbridge has agreed to numerous permit conditions, as a result of stakeholder input during the process, and we have committed to spend US$100 million on Tribal business and employment.
This project is immediately poised to provide significant economic benefits for counties, small businesses, Native American communities, and union members. Line 3 is a shovel ready US$2.9 billion private investment that will bring 4,200 family-sustaining construction jobs, millions of dollars in local spending and tax revenues at a time when Northern Minnesota needs it most.
Forward Looking Information
Forward-looking information, or forward-looking statements, have been included in this news release to provide information about Enbridge Inc. ("Enbridge" or the "Company") and its subsidiaries and affiliates, including management's assessment of Enbridge and its subsidiaries' future plans and operations. This information may not be appropriate for other purposes. Forward-looking statements are typically identified by words such as ''anticipate'', ''expect'', ''project'', ''estimate'', ''forecast'', ''plan'', ''intend'', ''target'', ''believe'', "likely" and similar words suggesting future outcomes or statements regarding an outlook. . Forward-looking information or statements in this news release include statements with respect to the Line 3 Replacement Project and expected regulatory and permitting actions and decisions, capital expenditures, construction schedules and anticipated economic benefits.
Although Enbridge believes these forward-looking statements are reasonable based on the information available on the date such statements are made and processes used to prepare the information, such statements are not guarantees of future performance and readers are cautioned against placing undue reliance on forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements. Assumptions regarding the expected supply of and demand for crude oil, natural gas, NGL and renewable energy, and the prices of these commodities, are material to and underlie all forward-looking statements, as they may impact current and future levels of demand for the Company's services. Similarly, the COVID-19 pandemic, exchange rates, inflation and interest rates impact the economies and business environments in which the Company operates and may impact levels of demand for the Company's services and cost of inputs, and are therefore inherent in all forward-looking statements. Due to the interdependencies and correlation of these macroeconomic factors, the impact of any one assumption on a forward-looking statement cannot be determined with certainty. The most relevant assumptions associated with forward-looking statements on announced projects and projects under construction such as the Line 3 Replacement Project, including estimated completion dates and expected capital expenditures, include the following: the COVID-19 pandemic and the duration and impact thereof; the impact of customer, government and regulatory approvals on construction and in-service schedules and cost recovery regimes; the availability and price of labour and construction materials; the effects of inflation and foreign exchange rates on labour and material costs; the effects of interest rates on borrowing costs; and the impact of weather.
Enbridge's forward-looking statements are subject to risks and uncertainties, including, but not limited to those risks and uncertainties discussed in this news release and in the Company's other filings with Canadian and United States securities regulators. The impact of any one risk, uncertainty or factor on a particular forward-looking statement is not determinable with certainty as these are interdependent and Enbridge's future course of action depends on management's assessment of all information available at the relevant time. Except to the extent required by applicable law, Enbridge assumes no obligation to publicly update or revise any forward-looking statements made in this news release or otherwise, whether as a result of new information, future events or otherwise. All subsequent forward-looking statements, whether written or oral, attributable to Enbridge or persons acting on the Company's behalf, are expressly qualified in their entirety by these cautionary statements.
About Enbridge Inc.
Enbridge Inc. is a leading North American energy infrastructure company. We safely and reliably deliver the energy people need and want to fuel quality of life. Our core businesses include Liquids Pipelines, which transports approximately 25 percent of the crude oil produced in North America; Gas Transmission and Midstream, which transports approximately 20 percent of the natural gas consumed in the U.S.; and Utilities and Power Operations, which serves approximately 3.7 million retail customers in Ontario and Quebec, and generates approximately 1,750 MW of net renewable power in North America and Europe. The Company's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit www.enbridge.com
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SOURCE Enbridge Inc.
