CALGARY, ALBERTA--(Marketwired - May 7, 2013) - Enbridge Inc. (TSX:ENB) (NYSE:ENB) announced today that it has entered into a terminal services agreement with ConocoPhillips Canada Resources Corp and Total E&P Canada Ltd. (the ConocoPhillips Surmont Partnership) to expand existing infrastructure at the Enbridge Cheecham Terminal to accommodate incremental bitumen production from Surmont's Phase 2 expansion. The approximately $0.3 billion expansion is expected to come into service in two phases through the fourth quarter 2014 and first quarter of 2015.
Enbridge will construct two new 450,000 barrel blend tanks and convert an existing tank from blend to diluent service, install receipt and distribution manifolds to facilitate transfers to Enbridge's Waupisoo Pipeline and upgrade associated measurement equipment. Enbridge brought a full expansion of the Waupisoo Pipeline into service in 2012 to, in part, serve the requirements of the growing production from the Surmont oil sands project.
"We're pleased to further our relationship with the ConocoPhillips Surmont Partnership by delivering timely and critical terminaling and transportation services that support the continued expansion of their oil sands projects," said Stephen J. Wuori, President, Liquids Pipelines and Major Projects. "We continue to work closely with our customers to develop innovative energy infrastructure solutions that meet their current and future needs, that utilize existing infrastructure and energy corridors wherever possible, and that can be built and operated safely, reliably and with respect for communities and the environment."
Enbridge's Regional Oil Sands System At-a-Glance:
Enbridge is the leading pipeline operator in the Fort McMurray to Edmonton/Hardisty corridor and well positioned to tie-in new oil sand developments to mainline pipelines and increase capacity for current customers. Enbridge's Regional Oil Sands Infrastructure includes the Athabasca and Waupisoo pipeline systems, which currently connect six producing oil sands projects, and which, through commercially secured expansions, will connect nine producing oil sands projects by 2015. A map is available at www.enbridge.com .
Athabasca Pipeline:
- 540-kilometre (335-mile) pipeline in operation since March 1999
- Annual capacity of up to 570,000 barrels per day of crude oil (depending on crude viscosity) from the Athabasca and Cold Lake regions of Alberta, south to Hardisty, Alberta
- Enbridge Athabasca is constructing a new crude oil pipeline project, called the Athabasca Pipeline Twinning Project (the "Project"), to provide transportation service for increased oil production in the Kirby Lake area.
Waupisoo Pipeline:
- 385-kilometre (237-mile) pipeline system in operation since June 2008
- Annual capacity of up to 600,000 bpd of crude oil (depending on crude viscosity) from Enbridge's Cheecham Terminal to Edmonton
- Enbridge is also constructing a new crude oil pipeline project, called the Woodland Extension, to provide Cheecham to Edmonton transportation service for increasing oil sands production.
Tankage:
- Largest operator of contract storage facilities at the Hardisty hub with the 3.1 million barrel Hardisty Caverns storage facility, plus the 7.5 million barrel Hardisty Contract Terminal surface storage facility (owned by Enbridge Income Fund)
- More than 4.4 million barrels of operational storage associated with the Waupisoo and Athabasca pipelines and laterals
Enbridge Inc. is a North American leader in delivering energy and one of the Global 100 Most Sustainable Corporations. 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 a significant and growing involvement in natural gas gathering, transmission and midstream businesses, and an increasing involvement in power transmission. 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. As a generator of energy, Enbridge has interests in close to 1,600 megawatts of renewable and alternative energy generating capacity and is expanding its interests in wind and solar energy, geothermal and hybrid fuel cells. Enbridge employs more than 10,000 people, primarily in Canada and the U.S. and is ranked as one of Canada's Greenest Employers and one of Canada's Top 100 Employers for 2013. Enbridge is included on the 2012/2013 Dow Jones Sustainability World Index and the Dow Jones Sustainability North America Index and is also a constituent of the 2012/2013 FTSE4Good Index Series. Enbridge's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit 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.
