Pipeline replacement project to move
forward
CALGARY and DULUTH, MN, Feb. 3,
2020 /PRNewswire/ - Enbridge Inc. (NYSE: ENB) (TSX:
ENB) said it is pleased with today's ruling by the Minnesota Public
Utilities Commission (MPUC) that the Line 3 Replacement Project
(L3RP)'s second revised Final Environmental Impact Statement (FEIS)
is adequate. The MPUC also reaffirmed L3RP's applications for
a certificate of need and pipeline routing permit.
"After nearly five years of community engagement, environmental
review, regulatory and legal review, it's good to see the Line 3
Replacement Project move forward," said Vern Yu, Executive Vice President, Liquids
Pipelines. "It is a $2.6 billion
investment in the state's critical energy infrastructure, but from
the start of the project has been about improving safety and
reliability for communities and the environment. We now look
forward to next steps on the project's remaining permits." The
replacement of Line 3 is the most studied pipeline project in
Minnesota history.
Enbridge will continue to work with the State and Federal
permitting agencies to finalize the permits required to start
construction.
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 in
this news release include statements with respect to L3RP and
expected regulatory and permitting actions and decisions.
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. The
most relevant assumptions associated with forward-looking
statements on announced projects and projects under construction,
including estimated completion dates and expected capital
expenditures, include the following: the availability and price of
labour and construction materials; the effects of inflation and
foreign exchange rates on labour and material costs; the effects of
interest rates on borrowing costs; the impact of weather and
customer, government and regulatory approvals on construction and
in-service schedules and cost recovery regimes.
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 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
Toll Free: (888) 992-0997
Email: media@enbridge.com
Investment Community
Toll Free: (800) 481-2804
Email: investor.relations@enbridge.com
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SOURCE Enbridge Inc.