Enbridge to sell $4.3bn in natural gas assets to Brookfield

By zaymalz malz

Canadian pipeline giant Enbridge has agreed to sell a range of natural gas assets, held within its Canadian gathering and processing (G&P) business, to Brookfield Infrastructure in a deal worth CAD$4.31bn.

The G&P business includes 19 natural gas processing plants and liquid handling facilities that, in total, have an operating capacity of 3.3bn cubic feet of gas per day (cf/d), alongside 3,550km of existing pipeline networks.

See also:

The sale raises Enbridge’s total asset divestiture’s this year to approximately $7.5bn after the firm previously sold a 49% stake in its German offshore wind projects to CPPIB for $2.25bn and its US natural gas business, Midcoast Operating LP to Archlight Capital for $1.12bn.

“When combined with asset monetisations announced in May, the sale of our Canadian G&P business significantly advances our strategic priority of moving to a pure play regulated pipeline and utility business model,” said Al Monaco, President and Chief Executive Officer of Enbridge.

“With a total of roughly $7.5bn in asset monetisations announced in 2018, we have more than doubled our initial target of $3bn.”

Brookfield has revealed that it will aim to maintain the current Canadian G&P workforce following the completion of the transaction that is subject to customary closing agreements.


Featured Articles

DEI done right: Brook Sims, COO, MAC Diversity Recruiters

Passionate about helping others find their voice, diversity leader and COO Brook Sims talks powerful leadership, diverse teams and being a change agent

Q&A: China’s ecommerce innovator Jeff Li, CEO of Shoplazza

Named in Fortune China’s 40 under 40 for 2022, former Baidu head Jeff Li is the entrepreneurial founder and CEO of ecommerce platform Shoplazza

How hybrid work is revolutionising the physical office

As hybrid work models roll out worldwide, the purpose of the office is changing with collaboration, connection and networking taking centre stage

Trailblazer: Shanique Bonelli-Moore, DEI chief at Clorox


Dean Forbes – the Forterro CEO aiming for the moon

Leadership & Strategy

Why becoming a B Corp is good for business