Enbridge Taps Private Equity Firms for Westcoast Pipeline Expansion

Enbridge has partnered with two private equity firms to fund its Westcoast natural gas pipeline expansion project in British Columbia. The joint venture, which will contribute $1.95 billion towards the costs, includes investment from Apollo and KKR.

The Westcoast expansion is a multibillion-dollar program that consists of two primary components: the Aspen Point program in the north and the Sunrise expansion in the south.

Enbridge will retain majority ownership of the system and continue to operate it. The company expects the Aspen Point project to become operational in the fourth quarter of this year, adding 535 million cubic feet of carrying capacity.