HOUSTON, June 15, 2007 (PRIME NEWSWIRE) -- Enbridge Energy Partners, L.P. (NYSE:EEP) (the "Partnership") today announced it will conduct a binding Open Season for the Phase 6 expansion of the Enbridge North Dakota Pipeline System. The proposed $130 million Phase 6 expansion, if fully subscribed, would increase system capacity from 110,000 barrels per day (bpd), available by year-end 2007, up to 155,000 bpd.
The system gathers crude oil from production areas in western North Dakota and eastern Montana and transports that crude oil to interconnections at Clearbrook, Minnesota, with the Minnesota Pipeline and the Partnership's Lakehead System. From the Lakehead System, shippers can access most of the major crude oil refinery markets along the Great Lakes and in the Midwest -- and, through both current and planned interconnecting pipelines, the U.S. Gulf Coast.
"This proposed Phase 6 expansion project is designed to benefit regional crude oil explorers, gatherers and producers, as well as refiners, by helping relieve a petroleum transportation bottleneck within the region," observed Brian Johnson, Enbridge North Dakota region manager. "The project, combined with a revised apportionment policy recently filed with the Federal Energy Regulatory Commission, will provide committed shippers the opportunity for firm capacity on this common carrier system while still offering uncommitted capacity for monthly nominations," added Johnson.
Shippers entering into binding 10-year commitments for a minimum of 2,000 bpd will have priority access for up to 80 percent of system capacity. The remaining capacity will be open for monthly nominations.
If shipper interest for incremental capacity significantly exceeds the available firm capacity offered in this Open Season, Enbridge will then work with shippers to plan for additional capacity expansion.
The binding Phase 6 Open Season will commence at noon CDT, Monday, June 18, 2007, and will end at noon CDT, Friday, August 3, 2007. Shippers desiring long-term committed capacity are requested to execute and submit completed transportation service agreements (TSAs), which are available on our website at www.enbridgeus.com/openseason.
More information about this Open Season is available by contacting:
Chris Martin Kelly Wilkins Enbridge Energy Company, Inc. Enbridge Energy Company, Inc. 1100 Louisiana, Suite 3300 1100 Louisiana, Suite 3300 Houston, Texas 77002 5217 Houston, Texas 77002 5217 (713) 821-2053 (832) 214-9430 chris.martin@enbridge.com kelly.wilkins@enbridge.com
About Enbridge Energy Partners
Enbridge Energy Partners, L.P. (www.enbridgepartners.com) owns and operates a diversified portfolio of crude oil and natural gas transportation systems in the United States. Its principal crude oil system is the largest transporter of growing oil production from western Canada. The system's deliveries to refining centers in the U.S. Midwest account for approximately 12 percent of total U.S. oil imports; while deliveries to Ontario, Canada, satisfy approximately 60 percent of refinery demand in that region. The Partnership's natural gas gathering, treating, processing and transmission assets, which are principally located onshore in the active U.S. Mid-Continent and Gulf Coast area, deliver more than 2 billion cubic feet of natural gas daily. Enbridge Energy Company, Inc., an indirect wholly owned subsidiary of Enbridge Inc., is the general partner and holds an approximate 15 percent interest in the Partnership.
This news release contains forward-looking statements related to a proposed pipeline system capacity expansion. Such statements are subject to certain risks, uncertainties and assumptions pertaining to factors such as regulatory approvals and performance of other parties. Reference should also be made to the Partnership's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the most recently completed fiscal year, for additional factors that may affect results. These filings are available to the public over the Internet at the SEC's web site (www.sec.gov) and via Partnership's web site.