CALGARY, AB and DULUTH, Minn., June 26,
2020 /CNW/ - Enbridge Inc. (NYSE: ENB) (TSX: ENB)
– The Minnesota Public Utilities Commission (MPUC) voted to
deny petitions for reconsideration filed on May 21, 2020 in the Line 3 Replacement Project
(L3RP) environmental impact statement (EIS), certificate of need
(CN) and route permit (RP) dockets.
"The MPUC's decision to deny the petitions for reconsideration
is yet another important step forward for the Line 3 Replacement
Project. This decision properly reflects the extensive and
complete review that the project has undergone," said Vern
Yu, Enbridge Executive Vice-President and President, Liquids
Pipelines.
L3RP not only meets Minnesota's
energy needs, it replaces an aging pipeline with one built to the
newest standards and using modern construction techniques. This is
the safest and best option for protecting the environment and
communities. Enbridge will continue to work with other permitting
agencies towards the timely issuance of the remaining permits and
construction is expected to take 6 to 9 months once all permits
have been received.
This project is immediately poised to provide significant
economic benefits for counties, small businesses, and Native
American communities. L3RP is a shovel-ready, US$2.9 billion private investment that will bring
4,200 union construction jobs, millions of dollars in local
spending and tax revenues at a time when Northern Minnesota needs it most.
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 L3RPand expected regulatory and permitting actions and
decisions, capital expenditures, construction schedules and
anticipated economic and other benefits.
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, 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 such as the L3RP, including estimated completion dates
and expected capital expenditures, include the following: the
COVID-19 pandemic and the duration and impact thereof; the impact
of customer, government and regulatory approvals on construction
and in-service schedules and cost recovery regimes; 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;
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 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.; gas distribution
and storage, which serves approximately 3.8 million retail
customers in Ontario and Quebec; and renewable power
generation, which 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.
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SOURCE Enbridge Inc.