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$2
billion
On the strength of our operating and pipeline development experience in Alberta’s oil sands region, Enbridge was chosen in late 2007 to develop the $2 billion in pipeline and terminaling facilities for the Fort Hills oil sands project, subject to final approvals.
GROWTH WAVE 2–EXPANSION BEYOND 2011
Enbridge’s positioning should serve the Company equally well as it competes for the more than $15 billion wave of opportunities that we now have in development to be in service in 2011 and beyond. These opportunities include mainline expansions, regional pipelines, new market access through mainline extensions, longer term new market access opportunities and contract terminaling.
Other initiatives include: the Gateway Pipeline Project to export oil sands crude oil to Asia-Pacific markets and California; and an extension of our mainline system to the east coast of the U.S. into the Philadelphia area.
Customers in Canada and the United States are calling for a significant amount of additional crude oil terminal capacity at both ends of Enbridge’s North American crude oil mainline system. Expansion of storage in key locations contributes to North American spare capacity and energy security. While this demand is primarily for term contract storage, customers are also seeking operational tankage at key locations on the mainline.
US Gulf Coast Opportunities
Enbridge’s latest initiative, a proposed joint venture with ExxonMobil Pipeline Company, is the Texas Access Pipeline to move crude oil originally sourced from Canada’s oil sands to refiners on the Texas Gulf Coast. An open season to solicit binding commitments from shippers began in December 2007.
Wave 2 Gateway Petroleum Export and Condensate Import Pipelines
Wave 2 Texas Access Pipeline and Eastern PADD II