Canada Europe Energy Summit Al Monaco, President and CEO, Enbridge Inc. addressed an audience of distinguished leaders from the Canadian energy sector, as well as prominent European-based investors, innovators, and thought leaders, at Canada House in London on Nov. 20, 2012.

1. Changing Markets - Evolving Expectations The New Realities Facing Canadian Energy
Al Monaco President and CEO, Enbridge Inc. November 20, 2012

2. Enbridge Position
2

3. The New Energy Landscape
•
Canada’s Export Driven Economy
•
Global Demand Growth
•
US Consumption
•
North American Supply
•
Canadian Energy Captive to US Market
•
Transportation Bottlenecks
0
20
40
60
80
100
120
1990
1995
2000
2005
2010
2015
2020
2025
Middle East
India
China
Rest of World
Bpd (millions)
37
49
55
57
62
68
37
39
56
66
83
100
0
20
40
60
80
100
120
1990
2000
2008
2015
2025
2035
Global Natural Gas Consumption
OECD
Non-OECD
Historical
Projections
Global Crude Oil Demand
Tcf

4. North American Crude and Natural Gas Spot Price
4
$112
$13
$3
$79
$85
$109
$91
Light Crude
Heavy Crude
Natural Gas
Alberta Light
WCS
Bakken
WTI
Brent
November 13, 2012
Maya
Asia*
$75
$59
* Price as of 11/12/2012
$107
LLS
$106

5. Market Access Projects
5
Flanagan South
Seaway Crude
Pipeline System
Line 9 Reversal
Northern
Gateway

6. •
Pipelines are enablers of oil and gas development
•
Economic benefits not enough to support energy projects
•
Energy companies making good environmental progress
Challenging Environment for Energy Projects
Our approach:
Anticipate and respond constructively to stakeholder concerns

7. Operational Excellence
Industry Leadership
Integrity Management
Leak Detection Capability and Control Systems
Third Party Damage Avoidance and Detection
Incident Response Capacity
Employee and Contractor Occupational Safety
Public Safety and Environmental Protection

8. Challenges Facing Canadian Energy
1 - The global energy marketplace is undergoing profound and transformative change.
2 - More is expected in terms of consultation, and environmental and operational performance.
3 – We are bridging the gap between these perspectives.