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Enbridge to Build $1.3 Billion Woodland Pipeline Extension
July 25, 2013
CALGARY, ALBERTA--(Marketwired - July 25, 2013) - Enbridge Inc. (TSX:ENB) (NYSE:ENB) announced today that it is proceeding with the construction of the Woodland Pipeline Extension Project. The project will extend the Woodland Pipeline south from Enbridge's Cheecham Terminal to its Edmonton Terminal to connect up with refineries and export pipelines in the Edmonton area. The project has an estimated cost of $1.3 billion, of which 50% is Enbridge's capital contribution, and a planned in service date in the third quarter of 2015.
The Woodland Pipeline Extension is being constructed to serve the Imperial Oil and ExxonMobil Kearl oil sands project and its recently announced expansion. Enbridge brought into service the Woodland Pipeline between the Kearl oil sands project and the Enbridge Cheecham terminal in the fall of 2012.
The 385-kilometre (228-mile), 36-inch (914-mm) Woodland Pipeline Extension will have an initial capacity of 400,000 barrels per day (bpd), with the ability to be expanded to approximately 800,000 bpd dependent upon crude viscosity. The majority of the proposed route of the Woodland Pipeline Extension follows existing Enbridge right-of-way and will be in a shared corridor with the Waupisoo Pipeline. The project will include new pump stations at the existing Roundhill Station location and at the Cheecham Terminal. Enbridge received regulatory approval for the project from the Alberta Energy Regulator (AER) in August 2012.
"Enbridge is pleased to further its investment in the Woodland pipeline system to serve the production growth from the Kearl oil sands project," said Stephen J. Wuori, President, Liquids Pipelines and Major Projects. "Extension of the Woodland Pipeline will bring additional crude oil transportation capacity into the Edmonton area, enabling us to accommodate forecasted regional oil sands production growth from the Kearl project and other oil sands projects targeted for delivery into the Edmonton hub.
"The Woodland Pipeline Extension Project is an example of how Enbridge is able to utilize existing infrastructure and rights-of-way wherever possible to minimize our footprint and our impact to communities, stakeholders and the environment," added Mr. Wuori. "We place the highest priority on the safety and operational reliability of our energy infrastructure at all stages of design, construction and operations."
With the Woodland Pipeline Extension Project, Enbridge is constructing infrastructure projects valued at more than $4.3 billion to service the increasing requirements of the Alberta oil sands producers. These projects are forecasted to come into service between 2013 and 2015.
For more information on Enbridge's regional pipeline systems, visit www.Enbridge.com.
About Enbridge Inc.
Enbridge Inc., a Canadian company, 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 more than 1,600 megawatts of renewable and alternative energy generating capacity and is expanding its interests in wind and solar energy and geothermal. Enbridge employs approximately 10,000 people, primarily in Canada and the U.S. and is ranked as one of Canada's Greenest Employers, and one of the Top 100 Companies to Work for in Canada. 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.
For more information please contact:
(403) 508-6563 or (888) 992-0997