Enbridge (ENB) Commences $1.9B Gulf Coast Access Project

Enbridge Inc. (NYSE: ENB) has secured sufficient capacity commitments from shippers to proceed with its Gulf Coast Access project offering crude oil transportation from its terminal at Flanagan, Illinois, to the U.S. Gulf Coast. Enbridge also announced that, in response to shipper requests, it will hold a second open season early in the new year to provide an opportunity for shippers to subscribe for additional capacity.

The Gulf Coast Access project will involve construction of an additional line from Flanagan south to Cushing, Oklahoma following Enbridge's existing Spearhead Pipeline right-of-way. This line is expected to be in service by mid 2014 at an estimated capital cost of approximately $1.9 billion depending on the final scope of the project. From Cushing, crude oil will move to Houston and Port Arthur, Texas on the Seaway Pipeline system owned by a joint venture between Enbridge and Enterprise Products Partners L.P.

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