Investment Highlights Strong Investment Commercially Enterprise Value - Grade (S&P, Moodys) secured organic Low-risk transformative Large-Cap MLP growth underway growth underway Highlights Total Shareholder Return One of the…
Investment Proposition 4
Strength of GP Enbridge Inc. ENB: North American leader in energy delivery Owner and operator of largest crude oil pipeline system 40 billion equity market cap Strong investment grade (A-, Baa1) Proven track record: industry…
Strategic Position Competitive Advantages Norman Wells Refiners Access to multiple crude streams Producers WCSB Zama Access to multiple premium markets Fort McMurray Flexible system Edmonton Hardisty Size and scale…
WCSB Supply Forecast vs. Pipeline Takeaway Capacity* MMb/d 9.0 Keystone XL Supply Forecast ENB Northern Gateway 8.0 TransMountain Expansion Energy East 7.0 6.0 5.0 4.0 3.0 ENB 2.0 1.0 OTHER 0.0 2013 Enbridge Forecast…
Bakken Crude Oil Supply vs. Pipeline Takeaway Capacity MMb/d 2.5 2.0 Range of External 1.5 Supply Forecasts 1.0 Enbridge Sandpiper* Plains Bakken North Baker Take-away (Platte) 0.5 Enbridge Berthold Rail ND Enbridge…
North American Crude Oil Price Fundamentals Significant Infrastructure Investment Opportunities Light Differentials Asia Brent WTI 9 114 96 Alberta Light LLS WTI 2 104 84 WCS Asia WTI 12 WTI Bakken 5 97 Bakken WTI - Alberta…
Providing New Market Access Opening New Markets for up to 1.7 million barrels per day + 1.0 MMbpd of Heavy and + 0.7 MMbpd of Light Norman Wells Eastern Access Light Oil Market Zama Fort McMurray +250 kbpd Light Access +50…
Market Access Programs Market Access Programs Bolster Lakehead System Utilization Fort 2013 McMurray Bakken Pipeline Expansion+ Berthold Rail - EEP Line 5 Expansion (+50 kbpd) - EEP Line 62 Expansion (+105 kbpd) - EEP Edmonton…
Project Execution 2014 In-Service Eastern Access: Ln 6B Replacement 160 miles of Line 6B replacement is on target to enter service in May ROW and permitting for the remaining 50 mile replacement secured, construction to begin this…
Line 3 Replacement Line 3: Part of Enbridge mainline system Replace all remaining segments from Hardisty to Superior with latest available high strength steel and coating technology EEP Capital Investment: border to Superior 2.6…
Bakken Expansion Sandpiper Pipeline Hardisty Regina Gretna Montreal Clearbrook Superior Sandpiper (2.6 B) Westover Scope: 610 mile, 24/30 pipeline Sarnia Capacity: 225 kbpd/375 kbpd Target in-service: Early 2016 Toledo…
Midcoast Energy Partners IPO (MEP) Drop-Downs Bolster Funding Program Near Term First Drop-Down to MEP targeted mid-2014 (300400 million) Drop-down remaining interests in gas business to MEP within five years Gas-Focused…
EEP to Drop-Down Natural Gas & NGL Business to MEP 100% Natural Gas business ownership 61% 39% IPO IPO 2014 NTM 9/30/14 2017e 2017E MEP to Execute on Growth Strategy First drop-down post-IPO targeted mid-2014 300400…
Natural Gas and NGL Midstream Business Anadarko System Ajax Processing Plant in service 3Q 2013 Texas Express NGL System East Texas System In service 4Q 2013 Beckville Processing Plant expected in service 1Q 2015 CLINE SHALE…
Funding Plan 2014-2017 (unconsolidated) Equity funding requirements manageable (billion) Uses/(Sources) Secured Growth Capital 9.4 Maintenance Capital 0.4 Joint Funding Call Back on Lakehead Expansions 0.7 10.5 ENB Joint…
Long-Term ENB Liquids Drop-Down Potential: 10 Billion + Distributable Cash Examples: Capital Cost/ Pipeline System Upsize Option Book Value* Eastern Access 0.4 (2016/2017) 1.5 Mainline Expansion 0.4 (2016/2017) 1.4 Alberta…
Key Takeaways Strategic position supported by strong business fundamentals Secured Liquids projects collectively transform the Partnership to an even lower risk business model Coverage strengthens as organic growth projects enter…
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