CALGARY, March 1, 2019 /CNW/ - Enbridge Inc. (TSX: ENB)
(NYSE: ENB) (Enbridge or the Company) announced that the
State of Minnesota (the "State")
has today provided Enbridge the permitting timeline for its
agencies' remaining environmental permits for the Line 3
Replacement Project.
The permitting timeline indicates that the certifications on all
remaining State permits required for the construction of Line 3
will be provided by this November. Enbridge anticipates that the
remaining Federal permits will be finalized approximately 30 to 60
days thereafter.
"We now have a firm schedule from the State on the timing of the
remaining permits for our Line 3 Replacement project," said
Al Monaco, President and Chief
Executive Officer of Enbridge. "We support a robust and transparent
permitting process that includes opportunity for public input.
We'll continue to work closely with State officials during this
process."
This new permitting schedule updates the Company's prior
expectation for the receipt of final State permits in the second
quarter of 2019, which underpinned an expected in-service date
before the end of this year. In light of this permitting timeline,
the Company is developing a revised construction schedule for the
Line 3 Replacement Project, but now expects an in-service date
during the second half of 2020. More specific timing on the
in-service date, as well as any potential impacts on the 2020
financial outlook, will be provided once the revised construction
schedule is finalized. The Company's 2019 distributable cash flow
guidance range of $4.30 to
$4.60/share remains unchanged as a
result of this permitting schedule.
"We appreciate the State's ongoing efforts in this regard and
will continue to work with the State agencies and the
Administration to ensure that this critical safety-driven project
is completed in a timely manner. We also want to thank all
stakeholders, including resident Tribes in Minnesota, various labour groups, local
landowners, and the many counties and municipalities along the
right of way for their continued support."
Background
The $9 billion Line 3 Replacement
Project is a critical integrity replacement project that will
enhance the safety and reliability of the Enbridge Liquids Mainline
System. The project has received overwhelming support from
stakeholders in Minnesota.
The Minnesota Public Utilities Commission approved the
Certificate of Need and Route Permit in June
2018 and unanimously denied petitions to reconsider the
decisions. In addition, agreement was reached with the Fond du Lac
Band of Lake Superior Chippewa granting a new 20-year easement for
the entire Mainline including the Line 3 Replacement Project
through their Reservation.
In October 2018, Enbridge
submitted all permit applications to the various federal and State
agencies, including the U.S. Army Corps of Engineers, the Minnesota
Department of Natural Resources, the Minnesota Pollution Control
Agency and other local government agencies in Minnesota.
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 in excess
of 3 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 has interests in more than 1,700 MW
of net renewable generating capacity 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
Tracie Kenyon
Toll Free: (888) 992-0997
Email: media@enbridge.com
Investment Community
Jonathan Gould
Toll Free: (800) 481-2804
Email: investor.relations@enbridge.com
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SOURCE Enbridge Inc.