Report: Enbridge's Northern Gateway project - A dead-end investment

VANCOUVER, Oct 5 /CNW/ - Prior to Enbridge's Investor Days in Toronto and New York, ForestEthics released a report to analysts and bondholders highlighting the risks and opposition associated with the company's Northern Gateway Pipelines proposal. The report -- Enbridge Northern Gateway Pipelines: Community Opposition and Investment Risk -- highlights First Nations legal risks, review process uncertainties and political risks associated with the controversial project.

"Enbridge has underestimated the risks and opposition associated with this project. If the project isn't stopped by a First Nations legal case, it will be stopped by a federally legislated tanker ban. If it's not stopped by the environmental review process, it will be delayed by lack of shipper agreements. If all else fails, First Nations and community resistance will rise up and take action," said Nikki Skuce, ForestEthics Senior Energy Campaigner. "Enbridge is essentially shoving money down a rat hole for a project that will never go ahead."

Link to report: http://www.forestethics.org/downloads/Enbr_investor_brief_oct2010_Final.pdf

Link to Executive Summary: http://www.forestethics.org/downloads/Enbr_investor_summary_oct2010_Final.pdf

For further information:

Claudia Li, Communications Officer, ForestEthics - 604-331-6201 ext. 224