Enterprise Products Partners L.P. (“Enterprise”) (NYSE: EPD) and
Enbridge Inc. (“Enbridge”) (NYSE/TSX: ENB) announced today that they
will hold a supplemental binding open commitment period for incremental
volumes on the new crude oil pipeline to be built from the Enterprise
Crude Houston (ECHO) terminal to Port Arthur, Texas. During the 45-day
open commitment period, Enterprise and Enbridge will be soliciting
shipper interest for crude oil movements originating from the Houston
area bound for the Beaumont/Port Arthur refining complex.
The approximately 85-mile lateral is being constructed to support the
Seaway reversal project and is expected to begin service early in 2014.
During the open commitment period, Enterprise and Enbridge will offer
interested shippers incremental capacity of approximately 200,000
barrels per day (“BPD”) over and above the capacity already subscribed
to as part of the Seaway reversal project. This pipeline will integrate
the Port Arthur/Beaumont and Houston market, providing greater market
optionality for shippers.
The reversal of Seaway and initial 150,000 BPD of southbound crude oil
capacity on the system remains on schedule for the second quarter of
The binding open commitment period will begin at 9 a.m. CST on February
29, 2012 and ends April 13, 2012 at noon CDT. For commercial inquiries,
or additional details and materials related to the binding open
commitment period, please contact:
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. The partnership’s assets
include approximately: 50,600 miles of onshore and offshore pipelines;
190 million barrels of storage capacity for NGLs, petrochemical, refined
products and crude oil; and 14 billion cubic feet of natural gas storage
capacity. Services include: natural gas gathering, treating, processing,
transportation and storage; NGL transportation, fractionation, storage,
and import and export terminaling; offshore production platform
services; crude oil and refined products transportation, storage and
terminaling; 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.
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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