Inspections show no damage to twin pipelines
CALGARY, AB and LANSING, Mich., June 22, 2020 /CNW/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge) said today the temporary restraining order and preliminary injunction sought by the Attorney General of Michigan is legally unsupportable, unnecessary, and will be vigorously opposed by Enbridge.
Enbridge understands the importance of the Great Lakes to the State and the need to protect the Straits, the environment and people. As part of its thorough maintenance and inspection program, Enbridge first noted a disturbance to an anchor support on the east leg last Thursday and immediately shut down both legs of the Line 5 dual pipelines crossing the Straits of Mackinac as a precautionary measure. The east leg pipeline remains shut down, while the west leg was restarted after a thorough review and consultation with our safety regulator.
"We have been working very closely with the Pipeline and Hazardous Materials Safety Administration (PHMSA), to ensure it is able to assess the safety of the dual pipelines. This included informing them of our completion of Remote Operated Vehicle inspections of the west leg of the line, which confirmed there was no mechanical damage to the pipeline or any support-anchors. We have also provided engineering assessments and other materials to State officials." said Vern Yu, Enbridge's Executive Vice-President and President, Liquids Pipelines. "We continue to work with PHMSA to answer their questions about our assessments of the dual pipelines."
Line 5 is a critical source of 540,000 barrels per day of propane and crude oil supply for Michigan and surrounding areas that make up the regional supply network for the State, producing transportation fuels and consumer goods. Line 5 has operated reliably and safely in the Straits since 1953 and continues to do so today.
A copy of Enbridge CEO Al Monaco's June 21, 2020 letter to Governor Whitmer which chronicles communication with the State on June 20 and 21, as well as undertakings to provide all findings to both the State and PHMSA, is attached to this release.
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 5 dual pipelines and any expected or possible litigation and the effects thereof, regulatory and permitting actions and decisions, and economic and other 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 in this news release with regards to the Line 5 dual pipelines include the impact of government and regulatory actions, approvals and litigation on ongoing operations.
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.; Gas Distribution and Storage, which serves approximately 3.8 million retail customers in Ontario and Quebec; and Renewable Power Generation, which 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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