CALGARY, Dec. 19, 2019 /PRNewswire/ - Enbridge Inc. (TSX:
ENB) (NYSE: ENB) (Enbridge or the Company) submitted today an
application to the Canada Energy Regulator (CER) to implement
contracting on the company's Mainline pipeline system.
The application for contracted and uncommitted service includes
the associated terms, conditions and tolls of each service which
would be offered in an open season following approval by the
CER. The tolls and services will replace the current tolling
settlement that is in place until June 30,
2021.
"We are moving to a contracted Mainline system in response to
what our customers have been asking us for and for the benefit of
the entire industry," said Guy
Jarvis, Enbridge Executive Vice President, Liquids
Pipelines. "Today's application is based on significant input and
advice from every corner of our industry and almost two years of
extensive negotiation with shippers to recognize the needs of
various customers in a balanced way."
"Shippers representing approximately 70 per cent of the
Mainline's current throughput support our approach, as evidenced by
the letters included within our application", said Jarvis. "The
most important part of this offering will be to secure long-term
demand for Canadian crude oil while ensuring that all interested
shippers can participate in a fair and transparent open season
process."
The attached backgrounder provides additional information on the
benefits Mainline transportation contracting will have for
shippers.
Forward-Looking Information
Forward-looking information, or forward-looking statements,
have been included or incorporated by reference in this news
release to provide information about Enbridge Inc. ("Enbridge" or
the "Company") and its subsidiaries and affiliates, including
management's assessment of Enbridge and its subsidiaries' and
affiliates' 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 Canadian Mainline contract offering,
including the benefits and timing thereof and the process and
timetable to receive applicable governmental, regulatory and other
approvals, including the approval of the Canada Energy
Regulator.
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 customer and
regulatory approvals and other 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 a leading North American energy
infrastructure company. We safely and reliably deliver the energy
people need and want to fuel quality of life. Our core businesses
include Liquids Pipelines, which transports approximately 25
percent of the crude oil produced in North America; Gas Transmission and Midstream,
which transports approximately 20 percent of the natural gas
consumed in the U.S.; and Utilities and Power Operations, which
serves approximately 3.7 million retail customers in Ontario and Quebec, and generates approximately 1,750 MW
of net renewable power in North
America and Europe. The
Company's common shares trade on the Toronto and New
York stock exchanges under the symbol ENB. 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
Morgan
Toll Free: (800) 481-2804
Email: investor.relations@enbridge.com
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SOURCE Enbridge Inc.