Enbridge Completes Acquisition of GoM Offshore Systems

Enbridge Inc.'s wholly-owned U.S. subsidiary, Enbridge (U.S.) Inc., has completed the purchase, effective January 1, 2005, of Shell Gas Transmission, LLC (SGT) from Shell US Gas & Power LLC for US$613 million plus associated working capital.

The newly acquired Gulf of Mexico offshore natural gas pipeline assets include ownership interests in 11 transmission and gathering pipelines in five major pipeline corridors that transport approximately 3 billion cubic feet per day. The 1,482 miles (2380 kilometers) of pipeline transport approximately half of all deepwater natural gas production in the Gulf of Mexico.

"The successful acquisition of these strategic offshore Gulf assets underlines our commitment to organic growth and to being one of the nation's leading energy transporters," said Dan C. Tutcher, Enbridge Group Vice President, Transportation South. "We are now well positioned to move much of the developing deepwater gas supply and to accommodate the potential transport needs of several proposed LNG re-gasification projects.

"I am also extremely pleased that most of the SGT employees and management team have chosen to join our Houston-based business unit, which will enable us to quickly integrate these assets into our natural gas business and will further add to the industry knowledge and savvy of our excellent natural gas operations and business teams."

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