Enbridge to conduct evaluations and testing in the
Wabamun area west of
Edmonton to ensure safe and permanent carbon
sequestration
CALGARY,
AB, March 31, 2022 /CNW/ - Today, the
Government of Alberta announced
that Enbridge (TSX: ENB) (NYSE: ENB) has been awarded the
right to pursue development of a carbon dioxide (CO2)
sequestration hub west of Edmonton,
Alberta. Enbridge is developing the Open Access Wabamun
Carbon Hub (the Hub) to support near-term carbon capture
projects being advanced by project partners Capital Power
Corporation (Capital Power) and Lehigh Cement, a division of Lehigh
Hanson Materials Limited (Lehigh Cement).
"We are excited to take this next step in developing the Open
Access Wabamun Carbon Hub in Alberta," said Enbridge's Colin Gruending, Executive Vice President and
President, Liquids Pipelines. "We commend the Government of
Alberta for moving quickly on
launching a world-class carbon capture and sequestration (CCS)
industry in the province. We look forward to working with project
partners Capital Power and Lehigh Cement, along with our local
Indigenous partners, to advance the Hub, creating jobs and economic
growth, and helping Alberta and
Canada meet emissions reduction
goals."
The Hub and associated carbon capture projects being advanced by
Capital Power and Lehigh Cement represent an opportunity to
avoid nearly 4 million tonnes of atmospheric
CO2 emissions with phased in-service dates starting
as early as 2025. Once built, the Hub will be among the largest
integrated CCS projects in the world and can be scaled to meet the
needs of other nearby industrial emitters.
The Hub's carbon transportation and sequestration facilities
will be co-developed and ultimately co-owned with local Indigenous
partners, including the First Nations Capital Investment
Partnership (comprised of Alexander First
Nation, Alexis Nakota Sioux Nation, Enoch Cree Nation
and Paul First Nation) and the Lac
Ste. Anne Métis Community.
Forward-Looking Information
Forward-looking information, or forward-looking statements,
have been included 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' 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 Enbridge's
proposed Open Access Wabamun Carbon Hub, including the
characteristics, benefits and in-service date thereof, the
evaluation agreement with the Government of Alberta, and the project's partners, including
local Indigenous partners.
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, natural
gas liquids 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, energy transition, including
the drivers and pace thereof, the COVID-19 pandemic, 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
in-service dates and the realization of anticipated benefits,
include the following: the impact of litigation and government,
regulatory and stakeholder actions and approvals on construction
and in-service schedules; 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; technology-related matters; and
the impact of weather.
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 30
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.; Gas Distribution
and Storage, which serves approximately 3.9 million retail
customers in Ontario and Quebec; and Renewable
Power Generation, which owns approximately 1,766 MW (net) in
renewable power generation capacity 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
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SOURCE Enbridge Inc.