Enbridge to Invest $0.2 Billion to Connect Ninth Oil Sands Project

Enbridge to Invest $0.2 Billion to Connect Ninth Oil Sands Project 
CALGARY, ALBERTA -- (Marketwire) -- 03/21/13 -- Enbridge Inc.
(TSX:ENB)(NYSE:ENB) today announced that it has entered into an
agreement to provide pipeline and terminaling services to the
proposed Athabasca Oil Corporation ("AOC") Hangingstone Oil Sands
Project (the "Hangingstone Project"). The Hangingstone Project will
be the ninth oil sands project to be connected to Enbridge's regional
system. 
Enbridge will construct a new 50-kilometre (31-mile), 16-inch
diameter pipeline from the Hangingstone Project to Enbridge's
Cheecham Terminal, as well as completing modifications at Cheecham to
support the incremental production. The project has an estimated cost
of up to approximately $0.2 billion subject to finalization of scope,
which will provide an initial capacity of 16,000 barrels per day
(bpd) with provisions for expansion to accommodate up to a further
60,000 bpd from Phase 2 which is committed to the Enbridge regional
system if sanctioned. The Phase I facilities are expected to be in
service in the latter half of 2015. 
"The attraction of the Hangingstone Project into our regional system
confirms the competitive advantages of our existing asset base,
reinforcing our expectations of additional growth from this segment
of our business," said Stephen J. Wuori, President, Liquids Pipelines
and Major Projects. "We're pleased to strengthen our relationship
with AOC by delivering timely and innovative terminaling and
transportation solutions for the development of their oil sands
project." 
Under the terms of the agreement, Enbridge will also provide pipeline
transportation services to Edmonton on its Regional Oil Sands System
for up to 16,000 bpd of diluted bitumen produced from Phase 1 of the
Hangingstone Project. The initial term of the pipeline and
terminaling agreement is 25 years, with AOC having the right to
extend the agreement in successive five-year terms for a total
contract life of 45 years. 
Enbridge foresees filing an application with the Energy Resources
Conservation Board (ERCB) and other regulatory authorities in May of
2013. Subject to the receipt of regulatory and environmental
approvals, it is anticipated that the Project would begin
right-of-way clearing in early 2014 and pipeline construction in the
winter of 2014/2015. 
Enbridge is committed to timely and meaningful dialogue with all
stakeholders, including shareholders, customers, and employees,
indigenous peoples, governments, regulators, and landowners, among
others, regarding all of our projects, operations and activities.
Enbridge will ensure this project is conducted in an environmentally
responsible manner with a focus on the safety of our employees and
the community. 
About Enbridge Inc. 
Enbridge Inc. is a North American leader in delivering energy and has
been included on the Global 100 Most Sustainable Corporations in the
World ranking for the past five years. 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 1,000 megawatts of renewable and alternative energy
generating capacity and is expanding its interests in wind, solar and
geothermal energy. Enbridge employs more than 10,000 people,
primarily in Canada and the U.S. and is ranked as one of Canada's
Greenest Employers and one of Canada's Top 100 Employers for 2013.
Enbridge is included on the 2012/2013 Dow Jones Sustainability World
Index and the Dow Jones Sustainability North America Index.
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. 
Contacts:
Enbridge Inc.
Jennifer Varey
Media
(403) 508-6563 or Toll Free: (888) 992-0997
jennifer.varey@enbridge.com 
Enbridge Inc.
Jody Balko
Investment Community
(403) 231-5720
jody.balko@enbridge.com
www.enbridge.com
 
 
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