CALGARY, ALBERTA--(Marketwire - Feb. 4, 2008) - Enbridge Inc. (TSX:ENB) (NYSE:ENB) announced today that it will lead a group of 19 energy industry participants in the Alberta Saline Aquifer Project (ASAP).
ASAP is a broad-based, industry-supported initiative that participants will roll out in three phases. Phase 1 will involve identifying suitable locations for the long term sequestration (storage) of carbon dioxide in deep saline aquifers. It is expected to be completed by the end of 2008.
Phase 2 will involve a pilot project during which sequestration sites will be designed to receive injected carbon dioxide. Later phases will involve expanding the project to a large-scale, long-term commercial sequestration operation.
ASAP is the first project of its kind in Canada, and will play a major role in advancing industry and government's knowledge of carbon dioxide sequestration. It also clearly demonstrates participants' commitment to addressing the challenges posed by climate change.
"Sequestration is widely considered to be one of the most meaningful ways that Canada and Alberta can reduce overall emissions," said Patrick D. Daniel, President and Chief Executive Officer, Enbridge Inc. "This project is a significant stepping stone in that endeavor, and an excellent opportunity for industry members to collaborate in the effort to find climate change solutions that work."
ASAP participants represent a wide range of expertise in the energy sector. Among them is founding partner EPCOR Utilities Inc., which builds, owns and operates power plants and electrical transmission and distribution networks in Canada and the U.S.
"As a founding partner in ASAP, our goal is to accelerate carbon dioxide capture and sequestration in Alberta, and to jump start the development of a carbon dioxide pipeline that will be critical to its success," said Donald Lowry, President and Chief Executive Officer, EPCOR.
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The list of ASAP participants is as follows:
ATCO Power Canada Ltd.
BP Canada Energy Company
Chevron Canada Resources
ConocoPhillips
Enbridge Inc.
EnCana
EPCOR
GreatPoint Energy Inc.
Hatch Energy
Laricina Energy Ltd.
Norwest Corporation
OPTI Canada Inc.
Pembina Pipeline Corporation
Penn West Energy Trust
Praxair Canada Inc.
Quadrise Canada Corporation
Schlumberger Carbon Services
TransCanada
UTS Energy Corporation
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About Enbridge
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 U.S., the world's longest crude oil and liquids transportation 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 5,500 people, primarily in Canada, the U.S. and South America. Enbridge's common shares trade on the Toronto Stock Exchange in Canada and on the New York Stock Exchange in the U.S. under the symbol ENB. Information about Enbridge is available on the Company's web site 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.
For more information please contact:
Enbridge Inc.
Jennifer Varey
Media
(403) 508-6563 or Toll Free: 1-888-992-0997
Email: jennifer.varey@enbridge.com
or
Enbridge Inc.
Vern Yu
Investment Community
(403) 231-3946
Email: vern.yu@enbridge.com
Website: www.enbridge.com