Enbridge Proceeding With Gulf Coast Access Project

abarrelfullabarrelfull wrote on 21 Dec 2011 07:25
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Enbridge Inc. (TSX:ENB) (NYSE:ENB) announced today that it has secured sufficient capacity commitments from shippers to proceed with its Gulf Coast Access project offering crude oil transportation from its terminal at Flanagan, Illinois, to the U.S. Gulf Coast. Enbridge also announced that, in response to shipper requests, it will hold a second open season early in the new year to provide an opportunity for shippers to subscribe for additional capacity.

The Gulf Coast Access project will involve construction of an additional line from Flanagan south to Cushing, Oklahoma following Enbridge's existing Spearhead Pipeline right-of-way. This line is expected to be in service by mid 2014 at an estimated capital cost of approximately $1.9 billion depending on the final scope of the project. From Cushing, crude oil will move to Houston and Port Arthur, Texas on the Seaway Pipeline system owned by a joint venture between Enbridge and Enterprise Products Partners L.P.

The binding open season period on the Flanagan South segment of the project will begin at 8 a.m. CDT, Wednesday, January 4, 2012, and continue until 12:00 p.m. (noon) CDT Friday, February 10, 2012.

A concurrent binding open season will be held on the joint venture Seaway Pipeline system to provide an opportunity for additional capacity subscriptions originating at Cushing.

"For those shippers seeking timely capacity for growing supplies produced in Western Canada and the Bakken to the Texas Gulf Coast, the Gulf Coast Access project offers near-term solutions through the cost-effective and efficient use of existing facilities and rights-of-way," said Stephen J. Wuori, President, Liquids Pipelines, Enbridge Inc. "Through a second open season on the Flanagan South Pipeline, we will be able to offer capacity to new shippers, as well as providing the opportunity for those shippers who have already subscribed to capacity from Flanagan to the Gulf Coast to add to their existing commitments."

Additional information about the open season will be available online at www.flanagansouth.enbridgeus.com beginning Jan. 4, 2012. For commercial inquiries, please contact:

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