Enterprise Products Partners L.P. (NYSE: EPD) and Enbridge Inc.
(NYSE/TSX:ENB) announced that the initial volumes of crude oil through
the Seaway Pipeline were delivered to the Jones Creek facility, near
Freeport, Texas, today at approximately 11 a.m. CDT. The arrival marks
the first southbound delivery of crude by pipeline from the oversupplied
Cushing hub, and gives producers access to all of the major refineries
in the Greater Houston area and Texas City.
Since May 19, 2012, when crude oil began flowing through the Seaway
Pipeline, volumes have steadily increased towards the current capacity
of 150,000 barrels per day (“BPD”). Work is underway and on schedule to
add incremental pumping capacity that would allow the existing Seaway
Pipeline to transport up to 400,000 BPD by the first quarter of 2013.
Seaway Crude Pipeline Company LLC is a 50/50 joint venture owned by
affiliates of Enterprise Products Partners and Enbridge Inc. In addition
to the pipeline that transports crude oil from Cushing to the Gulf
Coast, the Seaway system is comprised of a terminal and distribution
network originating in Texas City, Texas, which serves refineries
locally and in the Houston area. The Seaway system also includes dock
facilities at Freeport and Texas City. For additional information,
please visit www.seawaypipeline.com.
Enterprise Products Partners L.P. is one of the largest publicly traded
partnerships and a leading North American provider of midstream energy
services to producers and consumers of natural gas, NGLs, crude oil,
refined products and petrochemicals. The partnership’s assets include
approximately: 50,600 miles of onshore and offshore pipelines; 190
million barrels of storage capacity for NGLs, petrochemicals, refined
products and crude oil; and 14 billion cubic feet of natural gas storage
capacity. Services include: natural gas gathering, treating, processing,
transportation and storage; NGL transportation, fractionation, storage,
and import and export terminaling; offshore production platform
services; crude oil and refined products transportation, storage and
terminaling; petrochemical transportation and storage; and a marine
transportation business that operates primarily on the United States
inland and Intracoastal Waterway systems and in the Gulf of Mexico.
Additional information is available online at www.enterpriseproducts.com.
Enbridge Inc. is a North American leader in delivering energy and one of
the Global 100 Most Sustainable Corporations. As a transporter of
energy, Enbridge operates, in Canada and the U.S., the world's longest
crude oil and liquids transportation system. The Company also has a
significant and growing involvement in natural gas gathering,
transmission and midstream businesses, and an increasing involvement in
power transmission. As a distributor of energy, Enbridge owns and
operates Canada's largest natural gas distribution company, and provides
distribution services in Ontario, Quebec, New Brunswick and New York
State. As a generator of energy, Enbridge has interests in close to
1,000 megawatts of renewable and alternative energy generating capacity
and is expanding its interests in wind and solar energy, geothermal and
hybrid fuel cells. Enbridge employs approximately 7,000 people,
primarily in Canada and the U.S. and is ranked as one of Canada's
Greenest Employers, and one of the Top 100 Companies to Work for in
Canada. Enbridge's common shares trade on the Toronto and New York stock
exchanges under the symbol ENB. For more information, visit www.enbridge.com.
This press release includes “forward-looking statements” as defined
by the Securities and Exchange Commission and “forward-looking
information” within the meaning of applicable Canadian securities
legislation (collectively, “forward-looking statements”). All
statements, other than statements of historical fact, included herein
that address activities, events, developments or transactions that
Enterprise and Enbridge expect, believe or anticipate will or may occur
in the future, including anticipated benefits and other aspects of such
activities, events, developments or transactions, are forward-looking
statements. Although Enterprise and Enbridge believe that the
forward-looking statements included herein are based on information and
assumptions which are current, reasonable and complete, these statements
are necessarily subject to a variety of risks and uncertainties,
including required approvals by regulatory agencies, the possibility
that the anticipated benefits from such activities, events, developments
or transactions cannot be fully realized, the possibility that costs or
difficulties related thereto will be greater than expected, the impact
of competition and other risks and uncertainties included in the reports
filed with the Securities and Exchange Commission by Enterprise and
Enbridge, respectively, and in the filings made by Enbridge with
Canadian securities regulatory authorities. While Enterprise and
Enbridge make these forward-looking statements in good faith, should one
or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may differ
materially from those expected. Readers are cautioned not to
place undue reliance on these forward-looking statements, which speak
only as of their dates. Except as required by law, neither
Enterprise nor Enbridge intends to update or revise its forward-looking
statements, whether as a result of new information, future events or
otherwise.
