CALGARY, ALBERTA--October 1, 2003 - Enbridge Inc. today announced
that it has completed the acquisition of an additional 15%
interest in the Vector Pipeline from Duke Energy for US$72.5
million, including assumed debt of approximately US$45.6 million.
DTE Energy Company also acquired a 15% interest in Vector from
Duke Energy for the same price.
Calgary-based Enbridge (NYSE/TSX: ENB) now owns 60% of Vector
Pipeline and is operator of the pipeline; Detroit-based DTE
Energy (NYSE: DTE) owns the other 40%.
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 gas 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.
Information about Enbridge is available on the Company's web site
at www.enbridge.com.
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