The joint venture will fund two major natural gas pipeline projects in Canada, marking a significant infrastructure investment.
Enbridge announced a joint venture with private equity firms KKR and Apollo Global Management to finance the Aspen Point and Sunrise expansion programs on the Westcoast natural gas pipeline system. The deal involves a C$2.7 billion investment to support the projects.
The expansion aims to enhance capacity and infrastructure for natural gas transportation in Canada. Enbridge retains majority ownership of the pipeline system while securing additional funding through the partnership.
No immediate market reaction was disclosed, but the investment signals confidence in long-term energy infrastructure demand.