Enterprise Products Partners L.P. (“Enterprise”) (NYSE: EPD) and
Enbridge Inc. (“Enbridge”) (NYSE/TSX: ENB) today announced the start of
concurrent binding open seasons to solicit capacity commitments from
shippers for an expansion of the Seaway crude oil pipeline and a new
pipeline that will be built from Enterprise’s ECHO terminal to Port
Arthur, Texas. Enterprise and Enbridge recently announced plans to
reverse the flow direction of the 500-mile, 30-inch diameter Seaway
crude oil pipeline, enabling it to transport crude oil from the
oversupplied hub in Cushing, Oklahoma to the U.S. Gulf Coast.
The initial 150,000 barrels per day (“BPD”) of capacity on the reversed
system could be available by the second quarter 2012. Following pump
station additions and modifications, which are expected to be completed
by the first quarter 2013, capacity would increase to 400,000 BPD,
assuming a mix of light and heavy grades of crude oil. Depending on the
results of the open season, which began at 9 a.m. CST January 4, 2012
and continues through noon CST February 10, 2012, the Seaway pipeline
could be looped (or “twinned”) to create additional capacity.
The new 85-mile pipeline that will be built from Enterprise’s ECHO crude
oil terminal southeast of Houston to the Port Arthur/Beaumont, Texas
refining center will give shippers access to the region’s heavy oil
refining capabilities. Service is expected to begin in early 2014.
Enterprise and Enbridge each own a 50 percent interest in the Seaway
pipeline system, with Enterprise serving as operator. Additional
information about the open seasons is available online at
For commercial inquiries, please contact:
Enbridge today also launched the start of a separate open season for its
Gulf Coast Access Project, which will transport crude oil from Flanagan,
Illinois, south to Cushing via an additional line it will construct, and
then to Houston and Port Arthur on the Seaway pipeline system joint
venture. Further information about the Gulf Coast Access Project open
season can be found at
About Enterprise Products Partners L.P.
Enterprise Products Partners L.P. is one of the largest publicly
traded partnerships and a leading North American provider of midstream
energy services to producers and consumers of natural gas, NGLs, crude
oil, refined products and petrochemicals.
include approximately: 50,000 miles of onshore and offshore pipelines;
192 million barrels of storage capacity for NGLs, refined products and
crude oil; and 8 billion cubic feet of natural gas storage capacity.
include: natural gas transportation, gathering, processing and storage;
NGL fractionation, transportation, storage, and import and export
terminaling; crude oil and refined products storage, transportation and
terminaling; offshore production platform; petrochemical transportation
and storage; and a marine transportation business that operates
primarily on the United States inland and Intracoastal Waterway systems
and in the Gulf of Mexico.
Additional information is available at
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 close to 860 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 approximately 6,400 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
This press release includes “forward-looking statements” as defined
by the Securities and Exchange Commission and “forward-looking
information” within the meaning of applicable Canadian securities
legislation (collectively, “forward-looking statements”).
statements, other than statements of historical fact, included herein
that address activities, events, developments or transactions that
Enterprise and Enbridge expect, believe or anticipate will or may occur
in the future, including anticipated benefits and other aspects of such
activities, events, developments or transactions, are forward-looking
Although Enterprise and Enbridge believe that the
forward-looking statements included herein are based on information and
assumptions which are current, reasonable and complete, these statements
are necessarily subject to a variety of risks and uncertainties,
including required approvals by regulatory agencies, the possibility
that the anticipated benefits from such activities, events, developments
or transactions cannot be fully realized, the possibility that costs or
difficulties related thereto will be greater than expected, the impact
of competition and other risks and uncertainties included in the reports
filed with the Securities and Exchange Commission by Enterprise and
Enbridge, respectively, and in the filings made by Enbridge with
Canadian securities regulatory authorities.
While Enterprise and
Enbridge make 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 differ
materially from those expected.
Readers are cautioned not to
place undue reliance on these forward-looking statements, which speak
only as of their dates.
Except as required by law, neither
Enterprise nor Enbridge intends to update or revise its forward-looking
statements, whether as a result of new information, future events or
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