CALGARY, Aug. 2, 2019 /CNW/ - Enbridge Inc. (TSX: ENB)
(NYSE: ENB) (Enbridge or the Company) today announced it will
be holding an open season for transportation services on the
Canadian Mainline pipeline system.
The Canadian Mainline is a common carrier pipeline system with
100% of its transportation capacity currently available to shippers
on a spot, or uncommitted, basis. The Competitive Tolling
Settlement (CTS) that governs transportation tolls on the Mainline
will expire on June 30, 2021. In
advance of CTS expiration, Enbridge has spent considerable time
negotiating with its shippers and is holding an open season in
order to provide shippers with the opportunity to enter into
long-term contracts for priority transportation service on the
Canadian Mainline, with at least 10% of capacity reserved for
uncommitted volumes at all times.
Highlights of the open season offering include:
- Priority access in Canada for
contracted volume;
- Contract term up to 20 years;
- Toll discounts for longer terms and higher volumes.
Enbridge is seeking to have Canadian Mainline contracting take
effect on July 1, 2021, subject to
regulatory approval.
Following completion of the Line 3 Replacement project, Mainline
capacity will be 3.225 million bpd, of which up to 2.9 million bpd
will be contracted with the remaining 325 kbpd remaining in spot
service.
The open season will begin at 8:00 a.m.
MDT August 2, 2019 and end at
12:00 p.m. MDT on October 2, 2019.
Bona fide potential shippers that desire to receive copies of
the open season documents, including open season procedures and
transportation service agreements, are required to execute a
confidentiality agreement (CA).
All shipper inquiries about the open season or CA submissions
should be directed to:
Brent
Heinz
Director Mainline Contracting Execution
Phone: (403) 508-3158
Email: brent.heinz@enbridge.com
FORWARD-LOOKING INFORMATION
Forward-looking information, or forward-looking statements,
have been included in this news release to provide information
about the Company and its subsidiaries and affiliates, including
management's assessment of Enbridge and its subsidiaries' future
plans and operations. This information may not be appropriate for
other purposes. Forward-looking statements are typically identified
by words such as ''anticipate'', ''expect'', ''project'',
''estimate'', ''forecast'', ''plan'', ''intend'', ''target'',
''believe'', "likely" and similar words suggesting future outcomes
or statements regarding an outlook. Forward-looking information or
statements included or incorporated by reference in this document
include, but are not limited to, statements with respect to the
proposed open season for transportation services on the Canadian
Mainline pipeline system, including the benefits and timing
thereof.
Although Enbridge believes these forward-looking statements
are reasonable based on the information available on the date such
statements are made and processes used to prepare the information,
such statements are not guarantees of future performance and
readers are cautioned against placing undue reliance on
forward-looking statements. By their nature, these statements
involve a variety of assumptions, known and unknown risks and
uncertainties and other factors, which may cause actual results,
levels of activity and achievements to differ materially from those
expressed or implied by such statements. Assumptions regarding the
expected supply of and demand for crude oil, natural gas, NGL and
renewable energy, and the prices of these commodities, are material
to and underlie all forward-looking statements, as they may impact
current and future levels of demand for the Company's services.
Similarly, exchange rates, inflation and interest rates impact the
economies and business environments in which the Company operates
and may impact levels of demand for the Company's services and cost
of inputs, and are therefore inherent in all forward-looking
statements. Due to the interdependencies and correlation of these
macroeconomic factors, the impact of any one assumption on a
forward-looking statement cannot be determined with
certainty.
Enbridge's forward-looking statements are subject to risks
and uncertainties, including, but not limited to those risks and
uncertainties discussed in this news release and in the Company's
other filings with Canadian and United
States securities regulators. The impact of any one risk,
uncertainty or factor on a particular forward-looking statement is
not determinable with certainty as these are interdependent and
Enbridge's future course of action depends on management's
assessment of all information available at the relevant time.
Except to the extent required by applicable law, Enbridge assumes
no obligation to publicly update or revise any forward-looking
statements made in this news release or otherwise, whether as a
result of new information, future events or otherwise. All
subsequent forward-looking statements, whether written or oral,
attributable to Enbridge or persons acting on the Company's behalf,
are expressly qualified in their entirety by these cautionary
statements.
About Enbridge Inc.
Enbridge Inc. is
North America's premier energy
infrastructure company with strategic business platforms that
include an extensive network of crude oil, liquids and natural gas
pipelines, regulated natural gas distribution utilities and
renewable power generation. The Company safely delivers an average
of 2.9 million barrels of crude oil each day through its Mainline
and Express Pipeline; accounts for approximately 62% of U.S.-bound
Canadian crude oil exports; and moves approximately 18% of all
natural gas consumed in the U.S., serving key supply basins and
demand markets. The Company's regulated utilities serve
approximately 3.7 million retail customers in Ontario, Quebec, and New
Brunswick. Enbridge also generates approximately 1,600 MW of
net renewable energy power in North
America and Europe. The
Company's common shares trade on the Toronto and New
York stock exchanges under the symbol ENB.
Life takes energy and Enbridge exists to fuel people's
quality of life. For more information, visit
www.enbridge.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Media
|
Investment
Community
|
Jesse
Semko
|
Jonathan
Morgan
|
Toll Free: (888)
992-0997
|
Toll Free: (800)
481-2804
|
Email:
media@enbridge.com
|
Email:
investor.relations@enbridge.com
|
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SOURCE Enbridge Inc.