CALGARY, ALBERTA and HOUSTON, TEXAS--(CCNMatthews - Sept. 1, 2005) - Enbridge, Inc. (TSX:ENB) (NYSE:ENB) and Enbridge Energy Partners, L.P. (NYSE: EEP) today provided an update on their operations in areas of the U.S. Gulf Coast impacted by Hurricane Katrina.
Initial inspections of Enbridge Inc's Offshore Pipelines system, which includes the Stingray, Garden Banks, Green Canyon and Mississippi Canyon corridors, began Tuesday and are ongoing. Destin corridor, a joint venture between Enbridge and BP, is operated by BP and we understand is partially operational. Certain facilities, particularly the underwater pipelines, can not be evaluated until additional inspections can be completed. Damage has been identified in the Mississippi Canyon corridor, which was directly in the hurricane's path.
Prior to Hurricane Katrina, the Enbridge Gulf Offshore System moved on average approximately 3 bcf/d, amounting to approximately half of all deepwater Gulf of Mexico natural gas production. While portions of the offshore systems are available for transportation service, power outages and producers' hurricane-related shut-ins have delayed resumption of operations. The Garden Banks and Manta Ray systems are currently flowing volumes at approximately 150 mmcf/d and are expected to increase over the next several days. Start-up of the Stingray and Green Canyon facilities is dependent on resumption of offshore production and onshore interconnecting receipt systems provided that no damage is identified during start-up.
Enbridge maintains appropriate insurance covering both facilities and business interruption and has begun working with its carriers throughout the assessment, repair and recovery efforts.
In addition to the offshore systems, there are onshore systems in the U.S. Gulf Coast states that are owned by Enbridge Energy Partners, L.P. Some of these facilities also sustained damage including flooding and power outages as a result of Hurricane Katrina. Assessment of the extent of damage and duration of South Louisiana system outages continues. The damaged infrastructure of interconnecting receipt and delivery facilities continues to hinder communications efforts with our onshore facilities in the U.S. Gulf Coast region.
The companies' primary focus at this time is to account for all employees who were evacuated due to the hurricane and protect personnel working to bring the facilities back into service. Efforts to contact some employees post-hurricane continue to be hindered due to damaged communications infrastructure.
"While our initial focus is on the welfare and security of our employees, and on facility assessment and recovery, we are also deeply concerned about the millions of Gulf Coast residents affected by this extensive disaster," said Patrick D. Daniel, Enbridge President & Chief Executive Officer. "We are matching employee contributions to the Greater Houston Area Chapter of the American Red Cross as a first step in our efforts to support rescue and recovery efforts. Employee contributions are also being directed to the Canadian Red Cross."
Enbridge Inc. 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 4,000 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.
Enbridge Partners (www.enbridgepartners.com) owns the U.S. portion of the world's longest liquid petroleum pipeline and is active in natural gas gathering, processing and transmission. Enbridge Energy Management, L.L.C. (www.enbridgemanagement.com) manages the business and affairs of the Partnership, and its sole asset is an approximate 18 percent interest in the Partnership. Enbridge Energy Company, Inc., an indirect wholly owned subsidiary of Enbridge Inc. of Calgary, Alberta, is the general partner of Enbridge Partners and holds an approximate 11 percent effective interest in the Partnership.
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 that 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.
Bob Rahn
Investment Community
(403) 231-7398
Email: bob.rahn@enbridge.com
or
Enbridge Inc.
Jim Rennie
Media
(403) 231-3931
Email: jim.rennie@enbridge.com
Website: www.enbridge.com
or
Enbridge Energy Partners
Tracy Barker
Investment Community
(713) 821-2237
Email: tracy.barker@enbridge.com
or
Enbridge Energy Partners
Denise Hamsher
Media
(713) 821-2089
Email: denise.hamsher@enbridge.com