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Enbridge Inc
Symbol ENB
Shares Issued 855,034,826
Close 2015-05-26 C$ 60.52
Market Cap C$ 51,746,707,670
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Globe says Enbridge rival downplays tank farm risks

2015-05-26 07:57 ET - In the News

The Globe and Mail reports in its Tuesday, May 26, edition that tank-farm accident expert Ivan Vince says in a study paid for by the City of Burnaby, that Enbridge rival Kinder Morgan underestimated the risk of a worst-case-scenario fire at its Burnaby tank farm in its application to expand the facility. The Globe's Mike Hager writes that Dr. Vince says Kinder barely assessed the "show-stopping" risk of such a fire. Burnaby will file the report on Wednesday to the National Energy Board as part of its submissions opposing Trans Mountain's expansion. Dr. Vince says, "The only way they could possibly excuse not including this in their analysis and conclusions is if they show that it was so unlikely as to be incredible." That would mean the chance of such a fire happening was about one in one million each year. However, Dr. Vince's analysis showed that if the tank farm was expanded to include 13 more storage tanks (for a total of 26), the annual risk of such a fire would be one in 2,000. Dr. Vince says British authorities would not approve a proposal like Kinder Morgan's that lies so close to a residential neighbourhood.

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