CALGARY, Dec. 31, 2019 /CNW/ - Enbridge Inc. (TSX:
ENB) (NYSE: ENB) (Enbridge) today announced the closing of the
agreement through which Enbridge has sold a number of
federally-regulated natural gas gathering and processing assets in
British Columbia ("G&P
Business") to Brookfield Infrastructure (NYSE: BIP) (TSX: BIP.UN)
and its institutional partners (collectively, "Brookfield"). These
federally-regulated assets represent the second phase of the
$4.3 B transaction, previously
announced on July 4, 2018.
Enbridge has now closed the complete sale of the Canadian
G&P Business, which includes 19 provincially and
federally-regulated natural gas processing plants and 3,550
kilometres of natural gas gathering pipelines in British Columbia and Alberta. Under Brookfield's ownership, the G&P Business
is named NorthRiver Midstream Inc.
In addition, the Company has now received total proceeds of
approximately $8 billion from
previously announced non-core asset sales. These transactions have
further focused Enbridge's business on low risk pipeline and
utility assets, strengthened Enbridge's balance sheet and provided
the Company with additional financial flexibility.
About Enbridge Inc.
Enbridge Inc. is a leading North American energy
infrastructure company. We safely and reliably deliver the energy
people need and want to fuel quality of life. Our core businesses
include Liquids Pipelines, which transports approximately 25
percent of the crude oil produced in North America; Gas Transmission and Midstream,
which transports approximately 20 percent of the natural gas
consumed in the U.S.; and Utilities and Power Operations, which
serves approximately 3.7 million retail customers in Ontario and Quebec, and generates approximately 1,750 MW
of net renewable power in North
America and Europe. The
Company's common shares trade on the Toronto and New
York stock exchanges under the symbol ENB. For more
information, visit www.enbridge.com
FOR FURTHER INFORMATION PLEASE CONTACT:
Media
Tracie Kenyon
Toll Free: (888) 992-0997
Email: media@enbridge.com
Investment Community
Jonathan
Morgan
Toll Free: (800) 481-2804
Email: investor.relations@enbridge.com
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SOURCE Enbridge Inc.