May 9, 2000
a wholly-owned subsidiary of Enbridge Inc., plans to spend
approximately $35 million to provide additional long-term crude
oil handling services to Suncor Energy's oil sands operation near
Fort McMurray, Alberta.
Construction on four 150,000 barrel crude oil tanks will begin
immediately, with full service expected by May 2001. When
combined with facilities built in 1999, the newly constructed
tanks will double capacity at Enbridge's Athabasca Pipeline
terminal to a total of 1.2 million barrels. The tanks will be used
to accumulate and blend batches of products from Suncor's plant
for delivery through the Athabasca Pipeline to Hardisty or
Suncor's Oil Sands Pipeline to Edmonton.
"Next year, Suncor will begin commissioning Project Millennium - a
$2 billion expansion that will increase production at our oil
sands operation to 225,000 barrels a day," said Richard Brown,
General Manager, Suncor Energy Marketing Inc. "Enbridge will
complete the new tank construction as we begin to commission our
expansion project, providing us with more flexibility to handle
the higher product volumes. The new tanks should also improve
Suncor's unique ability to custom blend products to meet customer
needs."
Enbridge Pipelines (Athabasca) Inc. Vice-President Wayne Sartore
said the investment in additional crude handling services reflects
his company's commitment to the Fort McMurray region's growing oil
sands industry. "This project is a good example of Enbridge's
customer-driven approach to providing necessary terminalling and
tankage services that complement our oil pipeline transportation
business," he said. "We are pleased to continue our excellent
working relationship with Suncor in the Athabasca region, and look
forward to responding to the needs of other shippers as oil sands
production increases in the years ahead."
In service since April 1999, the 30-inch-diameter Athabasca
Pipeline transports oil from the oil sands to the pipeline hub at
Hardisty, Alberta. Suncor committed to be the initial shipper on
the line. Initial capacity is approximately 100,000 barrels per
day, with a maximum capacity of 570,000 barrels per day. The
pipeline is designed to accommodate future oil sands and heavy oil
production in the region.
Enbridge Inc. is a leader in energy transportation, distribution
and services. As a transporter of energy, Enbridge operates, in
Canada and the U.S., the world's longest crude oil and liquids
pipeline system. The company also is involved in liquids
marketing and international energy projects, and has 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, which
provides gas in Ontario, Quebec and New York State; and is
involved in the distribution of electricity. In addition,
Enbridge provides retail energy products and services to a growing
number of Canadian and U.S. markets. The company employs
approximately 5,500 people, primarily in Canada, the U.S. and
South America. Enbridge common shares trade on the Toronto Stock
Exchange in Canada under the symbol "ENB" and on The NASDAQ
National Market in the U.S. under the symbol "ENBR". Information
about Enbridge is available on the Company's web site at
Suncor Energy is an integrated Canadian energy company with a
leading position in Canada's oil sands industry. Suncor is also a
conventional natural gas producer in Western Canada, operates a
refining and marketing business in Ontario under the Sunoco brand,
and is pursuing international growth with an oil shale development
project in Australia. At the same time as Suncor meets today's
energy needs, the company is also investing in alternative and
renewable energy for the future. Suncor Energy common shares and
preferred securities are listed for trading on the Toronto and New
York Stock Exchanges (symbol SU).