Message-ID: <31124201.1075858846220.JavaMail.evans@thyme>
Date: Thu, 11 Oct 2001 11:58:30 -0700 (PDT)
From: shelley.corman@enron.com
To: bob.burleson@enron.com
Subject: FW: Thiis sale is curious in relation to Williams purchasing MOPS
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: quoted-printable
X-From: Corman, Shelley </O=ENRON/OU=NA/CN=RECIPIENTS/CN=SCORMAN>
X-To: Burleson, Bob </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Bburles>
X-cc: 
X-bcc: 
X-Folder: \SCORMAN (Non-Privileged)\Sent Items
X-Origin: Corman-S
X-FileName: SCORMAN (Non-Privileged).pst

FYI

 -----Original Message-----
From: =09Holmes, Bradley =20
Sent:=09Thursday, October 11, 2001 1:58 PM
To:=09Corman, Shelley; Blair, Lynn; Bryant, Mike; Nacey, Sheila
Subject:=09Thiis sale is curious in relation to Williams purchasing MOPS

Enbridge to Acquire Williams' South Texas Natural Gas Gathering, Treating a=
nd Transmission Assets
CALGARY, Alberta--(BUSINESS WIRE)--Oct. 11, 2001--Enbridge Inc. (NASDAQ:ENB=
R <http://finance.yahoo.com/q?s=3Denbr&d=3Dt> - news </n/e/enbr.html>; TSE:=
ENB. <http://finance.yahoo.com/q?s=3Denb.to&d=3Dt> - news </n/ca/e/enb.html=
>) today announced that it is purchasing natural gas gathering, treating an=
d transmission assets in south Texas from a unit of Williams (NYSE:WMB <htt=
p://finance.yahoo.com/q?s=3Dwmb&d=3Dt> - news </n/w/wmb.html>).=20
Enbridge will acquire 792 kilometres (492 miles) of gas mainlines regulated=
 by the Federal Energy Regulatory Commission and 480 kilometres (298 miles)=
 of non-FERC regulated assets including gathering systems and pipeline late=
rals. Closing of the acquisition is subject to regulatory approvals includi=
ng approval by FERC to remove the mainlines from jurisdiction under the Nat=
ural Gas Act.=20
The acquisition, for US$50 million, is the first to be completed by Enbridg=
e's recently created Transportation Group South, which is based in Houston =
and has overall responsibility for Enbridge's U.S. business activities. The=
 assets will be owned and operated by Enbridge's wholly owned subsidiary, E=
nbridge Midcoast Energy Inc.=20
``Acquisition of these assets enables Enbridge to further expand its geogra=
phic footprint and scale of operations,'' said Dan C. Tutcher, Enbridge Gro=
up Vice President, Transportation Group South. ``It levers off the expertis=
e that Enbridge Midcoast Energy has developed in gas gathering, processing =
and transportation, and enhances our position in the active Gulf Coast regi=
on. In addition to its strategic value, we expect the acquisition to be imm=
ediately accretive to Enbridge earnings, and to have potential for future e=
xpansion.''=20
The mainline assets include two pipelines that run from close to the Texas-=
Mexico border near Laredo and McAllen to Transco Station 30 where they conn=
ect with the Williams Transco mainline, which has connections at the Katy h=
ub and continues on to the U.S. Southeast and Northeast.=20
The non-FERC regulated assets include a 210-kilometre (130-mile) gathering =
system with a 90 million cubic feet per day capacity sour gas treatment pla=
nt and 78 ton per day sulphur recovery facilitity; 210 kilometres (130 mile=
s) of other gathering laterals; a currently inactive processing plant in Be=
e County with capacity of 60 million cubic feet per day; and a 61-kilometre=
 (38-mile) lateral connecting the two FERC-regulated mainlines.=20
Enbridge Inc. is a leader in energy transportation, distribution and servic=
es in North America and internationally. As a transporter of energy, Enbrid=
ge operates, in Canada and the U.S., the world's longest crude oil and liqu=
ids pipeline system. The Company also is involved in international energy p=
rojects, and has a growing involvement in natural gas transmission and mids=
tream businesses. As a distributor of energy, Enbridge owns and operates Ca=
nada's largest natural gas distribution company, which provides gas and ret=
ail services in Ontario, Quebec and New York State. The Company is developi=
ng a gas distribution network for the province of New Brunswick; is involve=
d in the distribution of electricity; and provides retail energy products a=
nd services to a growing number of Canadian and U.S. markets. Enbridge empl=
oys approximately 6,000 people, primarily in Canada, the U.S. and South Ame=
rica. Enbridge common shares trade on The Toronto Stock Exchange in Canada =
under the symbol ``ENB'' and on the NASDAQ National Market in the U.S. unde=
r the symbol ``ENBR''. Information about Enbridge is available on the Compa=
ny's web site at www.enbridge.com <http://www.enbridge.com>.