Enbridge to provide transportation capacity via two Texas
Eastern Transmission, LP projects to Venture Global's recently
sanctioned Plaquemines LNG facility
HOUSTON,
TX, May 26, 2022 /CNW/ - Enbridge
Inc. (TSX: ENB) (NYSE: ENB) is pleased to announce the
advancement of its Venice Extension Project and Gator Express
Meter Project to deliver 1.5 billion cubic feet per day of natural
gas to Venture Global's Plaquemines LNG facility located in
Plaquemines Parish, LA.
The Projects generally will involve 36-inch diameter pipe,
metering, and compressor station additions and improvements. The
Gator Express Meter Project is expected to be in service in 2023
and Venice Extension Project is expected to be in service in 2024,
with an estimated cost for both projects of US$400 million, which is underpinned by long-term
take or pay contracts.
"Enbridge is excited to continue working with Venture Global on
their second LNG project to bring clean, reliable natural gas to
the U.S. Gulf Coast for export to global markets," said
Cynthia Hansen, Enbridge Executive
Vice President and President, Gas Transmission & Midstream.
"Our Texas Eastern system is ideally positioned to supply growing
North American LNG exports, which are essential to meeting
society's energy security and climate change goals."
Enbridge 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 the Venice
Expansion Project and the Gator Express Meter Project, including
the characteristics, components and benefits thereof, expected in
service dates, and anticipated costs.
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, renewable energy and other commodities, 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, 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 labor and construction
materials; the effects of inflation and foreign exchange rates on
labor and material costs; the effects of interest rates on
borrowing costs; technology-related matters; the impact of weather;
and expectations about our partners' ability to complete and
finance proposed projects.
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.
FOR FURTHER INFORMATION PLEASE
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SOURCE Enbridge Inc.