CALGARY, ALBERTA--(CCNMatthews - Sept. 14, 2005) - Enbridge Inc. (TSX:ENB) (NYSE:ENB) today announced that it has entered into agreements to provide terminaling and pipeline services to the Heartland Upgrader under development by BA Energy at Fort Saskatchewan, Alberta. Enbridge expects to invest approximately $80 million in new facilities to provide the services under long-term commitments provided by BA Energy for both the terminal and pipeline facilities.
The Heartland Upgrader will utilize technology developed by Value Creation Inc., the parent of BA Energy, to upgrade raw bitumen into a higher value refinery feedstock.
Enbridge will provide storage services at a new satellite terminal it will develop at Fort Saskatchewan, adjacent to the upgrader. It will also provide pipeline transportation for the upgrader's output from the new terminal to the nearby Edmonton terminal and refinery. The Enbridge facilities are scheduled to be in service in the fourth quarter of 2007.
J. Richard Bird, Enbridge Inc. Group Vice President, Liquids Pipelines said, "Increased investment in oil sands regional transportation and terminaling services is one of the key infrastructure development focuses of our liquids pipelines growth plan, so we are pleased to provide such services to this important new project. Additional upgrading within the province will optimize the marketability of growing volumes of oil sands production, and increase the value added within Alberta. These new facilities will also establish an important strategic foothold in the Heartland area and once again demonstrates our ability to offer the industry customized energy infrastructure solutions."
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 4,300 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. 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.
Jim Rennie
Media
(403) 231-3931
Email: jim.rennie@enbridge.com
or
Enbridge Inc.
Bob Rahn
Investment Community
(403) 231-7398
Email: bob.rahn@enbridge.com
Website: www.enbridge.com