Form 6-K: Press Releases Dated March 1st, 2nd & 23
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
Dated April 3, 2006
Commission file number 0-21080
ENBRIDGE INC.
(Exact name of Registrant as specified in its charter)
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Canada
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None |
(State or other jurisdiction
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(I.R.S. Employer Identification No.) |
of incorporation or organization) |
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3000, 425 1st Street S.W.
Calgary, Alberta, Canada T2P 3L8
(Address of principal executive offices and postal code)
(403) 231-3900
(Registrants telephone number, including area code)
[Indicate by check mark whether the Registrant files or will file annual reports under cover of
Form 20-F or Form 40-F.]
[Indicate by check mark whether the Registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934].
THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE
IN THE REGISTRATION STATEMENTS ON FORM S-8 (FILE NO. 333-13456, 333-97305, 333-6436 AND 333-127265), FORM F-3 (FILE NO.
33-77022) AND FORM F-10 (FILE NO. 333-122526) OF ENBRIDGE INC. AND TO BE PART THEREOF FROM THE DATE
ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS
SUBSEQUENTLY FILED OR FURNISHED.
The following documents are being submitted herewith:
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Press Release dated March 1, 2006. |
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Press Release dated March 2, 2006. |
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Press Release dated March 23, 2006. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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ENBRIDGE INC.
(Registrant)
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Date: April 3, 2006 |
By: |
/s/ Alison T. Love
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Alison T. Love |
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Vice President & Corporate Secretary |
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NEWS RELEASE
Enbridge announces quarterly interest distribution for Preferred Securities
CALGARY, Alberta, March 1, 2006 Enbridge Inc. today announced that a quarterly interest
distribution of $0.4875 per security will be paid on the companys 7.80% Preferred Securities,
Series D, on March 31, 2006, to holders of record at the close of business on March 15, 2006.
Enbridge Inc., a Canadian company, is a leader in energy transportation and distribution in North
America and internationally. As a transporter of energy, Enbridge operates, in Canada and the
U.S., the worlds longest crude oil and liquids transportation system. As a distributor of energy,
Enbridge owns and operates Canadas largest natural gas distribution company, and provides
distribution services in Ontario, Quebec, New Brunswick and New York State. The Company also has
international operations and a growing involvement in the natural gas transmission and midstream
businesses.
Enbridges common shares trade on the Toronto Stock Exchange in Canada and on the New York Stock
Exchange in the United States under the symbol ENB. Information about Enbridge is available on the
Companys web site at www.enbridge.com.
Contacts:
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Investment Community
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Media |
Robert Rahn
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Jim Rennie |
(403) 231-7398
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(403) 231-3931 |
e-mail: bob.rahn@enbridge.com
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e-mail: jim.rennie@enbridge.com |
NEWS RELEASE
Enbridges Spearhead Pipeline delivers Canadian crude oil to Cushing, Oklahoma
CALGARY, Alberta, and CUSHING, Oklahoma, March 2, 2006 Enbridge Inc. (TSX/NYSE: ENB) announced
today that the first Western Canadian crude oil will officially be delivered through its Spearhead
Pipeline to Cushing, Oklahoma this morning. This event marks the inauguration of an economic path
for substantial volumes of Canadian crude oil to penetrate the most significant trading hub in the
United States.
A number of Enbridge Inc. senior executives, customers and other dignitaries will celebrate the
first oil of Spearhead at a special inaugural valve-turning ceremony today at the Cushing crude
oil terminal.
The crude oil being delivered to Cushing originates in the Canadian oil sands located in northern
Alberta. The oil sands contain 175 billion barrels of reserves, second only to Saudi Arabia. The
oil enters the Enbridge mainline system at Edmonton, Alberta, and travels 1,565 miles (2,519
kilometers) to Chicago, before entering the Spearhead Pipeline for the final 650-mile
(1046-kilometer) lap to Cushing. The transit time from Edmonton to Cushing averages approximately
47 days.
This event marks the beginning of a new era of North American crude supply, said Patrick D.
Daniel, Enbridge president and chief executive officer. Canada is already the largest supplier of
crude oil to U.S. markets at 1.6 million barrels per day. Canadian exports have the potential to
double during the next 10 years if attractive markets for the production can be established.
The Spearhead Pipeline is one component of Enbridges broader plan to provide access for Canadian
production to new markets in the United States, added Mr. Daniel. This will enable more U.S.
refineries to receive reliable supplies of Canadian crude oil while providing Canadian producers
with the favorable netbacks required to make this crude oil economic to produce. For example, in
recent weeks, the price of heavy crude oil in Cushing ran at about $10 higher per barrel than
Canadian heavy crude sells for in Chicago. The spot toll to move a barrel from Chicago to Cushing
on Spearhead is only $1.50. As a result, we anticipate that throughput will rapidly reach the
125,000 barrels per day initial capacity on the line.
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We also have received strong interest in expanding the line, which we can do very
economically, continued Mr. Daniel. We will respond with all the capacity that
shippers require through a combination of a near-term power-up to 190,000 barrels per day and a
longer term looping program, the first phase of which would provide a further 100,000 barrels per
day.
The Spearhead Pipeline is the spearhead of Enbridges market access initiatives. Other
components of Enbridges plan include the Southern Access and Alberta Clipper mainline expansion
projects and the Southern Access extension. The combination of these pipeline projects will
provide the lowest toll and greatest delivery and storage flexibility for shippers and will enable
substantial additional volumes of oil sands production to supply U.S. refineries in Chicago and
beyond and as far south as the U.S. Gulf Coast.
Note: A high resolution map of the Spearhead Pipeline is available on Enbridges web site at
www.enbridge.com
Enbridge Inc., a Canadian company, is a leader in energy transportation and distribution in North
America and internationally. As a transporter of energy, Enbridge operates, in Canada and the
U.S., the worlds longest crude oil and liquids transportation system. The Company also has
international operations and a growing involvement in the natural gas transmission and midstream
businesses. As a distributor of energy, Enbridge owns and operates Canadas largest natural gas
distribution company, and provides distribution services to 1.8 million customers in Ontario,
Quebec, New Brunswick and New York State. Enbridge employs approximately 4,500 people, primarily
in Canada, the U.S. and South America. Enbridges common shares trade on the Toronto Stock
Exchange in Canada and on the New York Stock Exchange in the U.S. under the symbol ENB. Enbridge
Inc. is operator of and owns approximately 11% of Enbridge Energy Partners, L.P. (EEP on the
NYSE). Information about Enbridge is available on the Companys web site at www.enbridge.com.
Certain information provided in this news release constitutes forward-looking statements. The
words anticipate, expect, project, estimate, forecast and similar expressions are
intended to identify such forward-looking statements. Although Enbridge believes that these
statements are based on information and assumptions that are current, reasonable and complete,
these statements are necessarily subject to a variety of risks and uncertainties pertaining to
operating performance, regulatory parameters, weather, economic conditions and commodity prices.
You can find a discussion of those risks and uncertainties in our Canadian securities filings and
American SEC filings. While Enbridge makes these forward-looking statements in good faith, should
one or more of these risks or uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary significantly from those expected. Enbridge assumes no
obligation to publicly update or revise any forward-looking statements made herein or otherwise,
whether as a result of new information, future events or otherwise.
Enbridge Contacts:
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Media
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Investment Community |
Jim Rennie (403) 231-3931
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Bob Rahn (403) 231-7398 |
jim.rennie@enbridge.com
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bob.rahn@enbridge.com |
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Glenn Herchak (403) 266-7906 |
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glenn.herchak@enbridge.com |
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NEWS RELEASE
Enbridges Southern Access expansion tolls approved by FERC
CALGARY, Alberta and HOUSTON, Texas, March 23, 2006 Enbridge Inc. (TSX/NYSE:ENB) and Enbridge
Energy Partners, L.P. (NYSE:EEP) (the Partnership) are pleased to advise that the U.S. Federal
Energy Regulatory Commission (FERC) has approved an Offer of Settlement (Settlement) with respect
to tolls for the Southern Access expansion. The Settlement was filed with FERC in December 2005
with the support of the Canadian Association of Petroleum Producers and shippers. The FERC order
approves the Settlement as ...fair and reasonable and in the public interest.
The Settlement allows the Lakehead System to recover through a surcharge the costs associated with
Southern Access expansion in addition to its existing base rates. The surcharge will be a
transparent, cost-of-service-based tariff mechanism that the Partnership will true-up each year to
actual costs and throughput. The decision marks the conclusion of a critical step toward the
completion of the Southern Access expansion. With the toll design approved, Enbridge will continue
with permitting and construction in order to have the facilities fully in service in early 2009.
The Southern Access expansion program includes expansions on Enbridges Canadian mainline from
Hardisty, Alberta to the international border near Neche, North Dakota and new pipeline
construction in the U.S. by the Partnership.
The U.S. portion of the expansion will add a total of 400,000 barrels per day of capacity at an
estimated cost of US$1,040 million (in 2005 dollars). This portion of the expansion will be
undertaken on the Partnerships Lakehead System, with the first stage to add 44,000 barrels per day
of capacity in 2007 and an additional 146,000 barrels per day by early 2008, with the final 210,000
barrels per day stage completed in early 2009. The new pipeline will be built between Superior,
Wisconsin and Flanagan, Illinois, just west of Chicago. At Flanagan, the new line will have access
to Chicago and will interconnect with Enbridge Inc.s Spearhead Pipeline that began delivering to
Cushing, Oklahoma on March 1, 2006.
Additional information on the Southern Access Program is posted at www.southernaccess.com.
ABOUT ENBRIDGE ENERGY PARTNERS
Enbridge Energy Partners, L.P. owns and operates a diversified portfolio of crude oil and natural
gas transportation systems in the U.S. Its principal crude oil system is the largest transporter
of growing oil production from western Canada. The systems deliveries to refining centers in the
U.S. Midwest account for approximately 10 percent of total U.S. oil imports; while deliveries to
Ontario, Canada satisfy approximately 60 percent of refinery demand in that region. The
Partnerships 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 Management, L.L.C. (NYSE:EEQ)
(www.enbridgemanagement.com) manages the business and affairs of the Partnership and its
principal asset is an approximate 18 percent interest in the Partnership. Enbridge Energy Company,
Inc., an indirect wholly owned subsidiary of Enbridge Inc. is the general partner and holds an
approximate 11 percent interest in the Partnership.
ABOUT ENBRIDGE INC.
Enbridge Inc. (www.enbridge.com) is a leader in energy transportation and distribution in
North America and internationally. As a transporter of energy, Enbridge operates, in Canada and
the United States, the worlds longest crude oil and liquids pipeline system. Enbridge also has
international operations and a growing involvement in the natural gas transmission and midstream
businesses. As a distributor of energy, Enbridge owns and operates Canadas largest natural gas
distribution company, which provides distribution services in the provinces of Ontario, Quebec and
New Brunswick, and in New York State. Enbridge is a Canadian company and its common shares trade on
the Toronto Stock Exchange in Canada and on the New York Stock Exchange in the United States under
the symbol ENB.
LEGAL NOTICE
When used in this news release, words such as anticipates, expects, plans, will and similar
expressions are intended to identify forward-looking statements. Such statements are subject to
certain risks, uncertainties and assumptions pertaining to factors such as: (1) changes in the
demand for, or the supply of, and price trends related to crude oil and natural gas liquids;
including the rate of development of the Alberta Oil Sands; (2) changes in or challenges to
Enbridge Partners tariff rates; (3) the effects of competition, including by other pipeline
systems; (4) regulatory approvals; and (5) performance of other parties. Reference should also be
made to Enbridge Partners 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 SECs web
site (www.sec.gov) and via Enbridge Partners web site.
CONTACTS:
Enbridge Energy Partners
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Investor Relations:
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Media: |
Tracy Barker
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Denise Hamsher |
(866) EEP INFO or (866) 337-4636
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(713) 821-2089 |
E-mail: eep@enbridge.com
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E-mail: usmedia@enbridge.com |
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Enbridge Inc. |
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Investor Relations:
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Media: |
Bob Rahn
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Glenn Herchak |
(403) 231-7398
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(403) 266-7906 |
Email: bob.rahn@enbridge.com
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Email: glenn.herchak@enbridge.com |