“The Wrangler Pipeline will offer flexible solutions to shippers seeking to move crude oil out of the Cushing hub, solving the current lack of transportation options following recent changes in supply routes in North America,” said Patrick D. Daniel, president and chief executive officer, Enbridge Inc. “We’re pleased that Enterprise shares our vision to design this pipeline to meet the needs over the long-term as the Cushing Hub continues to attract both light and heavy production from North American producers. Combining Enbridge’s large storage position at Cushing, with Enterprise’s ECHO terminal in Houston will provide tremendous connectivity for the industry.”U.S. Midcontinent crude oil supplies are growing rapidly and that trend is expected to continue as a result of the development of shale plays such as Bone Springs/Avalon, Bakken, Niobrara and Barnett. Additionally, refiners and oil producers are seeking new pipeline routes south of Cushing rather than the historical northerly supply routes out of that crude oil hub. Another important driver of this project is the demand by Gulf Coast refineries for Western Canadian crude oil supplies, which have been growing since Alberta oil first accessed the Cushing Hub over the last decade. The Wrangler Pipeline will be designed to accommodate quality-controlled batches of a variety of grades and sources of crude oil, providing options for economical, efficient and safe transportation of crude oil. Open season to begin October 3, 2011 Also today, Enterprise and Enbridge announced plans for a binding open commitment period for available capacity on the new pipeline, which will begin at 8 a.m. CDT, Monday, October 3, 2011, and continue until 5 p.m. CDT Wednesday, November 2, 2011. Subject to the required regulatory approvals and sufficient long-term commitments from interested shippers, the pipeline is expected to be in service by mid-2013. Construction of the project is expected to be managed by Enbridge with Enterprise serving as operator.
|For additional information or commercial inquiries about the project, please contact:|
|Brad Shamla||Vince Paradis|
|(403) 231-5915||(403) 231-5991|
Enterprise Products Partners L.P. is the largest publicly traded partnership and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. EPD’s assets include approximately: 50,000 miles of onshore and offshore pipelines; 192 million barrels of storage capacity for NGLs, refined products and crude oil; and 27 billion cubic feet of natural gas storage capacity. Services 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 www.enterpriseproducts.com.Enbridge Inc., a Canadian company, is a North American leader in delivering energy and one of the 2011 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 growing involvement in the natural gas transmission and midstream businesses, and is expanding its interests in renewable and green energy technologies including wind and solar energy, hybrid fuel cells and carbon dioxide sequestration. 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. 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 information, visit enbridge.com This press release includes “forward-looking statements” as defined by the Securities and Exchange Commission. All 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 statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, 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 risk factors included in the reports filed with the Securities and Exchange Commission by Enterprise or Enbridge. 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 otherwise.