Enbridge Pipelines will expand the tankage of terminal at Edmonton

Enbridge Inc. (TSX:ENB) (NYSE:ENB) announced today that its wholly owned subsidiary, Enbridge Pipelines Inc. (EPI), will expand the tankage of its mainline terminal at Edmonton, Alberta by one million barrels at an estimated cost of approximately $260 million, subject to regulatory approval. The expansion is targeted for completion by late 2012. The expansion is required to accommodate growing oil sands production receipts both from Enbridge’s Waupisoo Pipeline and other non-Enbridge pipelines. The expansion will be undertaken under the terms of the 2010 Incentive Tolling Settlement between EPI and the Canadian Association of Petroleum Producers (CAPP). Enbridge has received a letter of support from CAPP to undertake the project. The expansion, which will be conducted over two phases, will consist of the construction of four tanks in the North Terminal and the installation of short segment of pipeline and related infrastructure. Subject to regulatory approval, construction will commence early in 2011. Phase I is expected to be in service in the third quarter of 2012 and Phase II in the fourth quarter of 2012. “Our strong regional presence, combined with our mainline system, gives Enbridge an unparalleled ability to expand and extend our energy delivery networks to reach new markets for our customers throughout North America,” says Stephen J. Wuori, Executive Vice President, Liquids Pipelines, Enbridge Inc. “These additional tanks will help ensure the necessary infrastructure is in place to accommodate increased oil volumes anticipated in 2012 and will provide improved netbacks for our customers.” The proposed tanks will be built with a number of safety and environmental protection features and will be incorporated into Enbridge’s existing safety and emergency response plans and procedures for the Terminal. Enbridge will take steps to minimize potential impacts associated with noise, traffic and dust during construction. The work will be conducted within the existing Enbridge Terminal property, located in an industrial area in Strathcona County. 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 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 6,000 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 enbridge.com Certain information provided in this news release constitutesforward-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. ((29 SEP 2010))

http://thegreenjournal.ca/2010/09/enbridge-to-expand-edmonton-terminal/

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