Enbridge Forms Joint Venture With KKR to Fund Westcoast Pipeline Expansions

07:39 AM EDT, 08/27/2026 (MT Newswires) -- Enbridge (ENB) has entered into a definitive agreement with KKR (KKR) to form a joint venture that will invest about $2.7 billion Canadian dollars ($1.94 billion) to fund the expansion of the Aspen Point and Sunrise programs on the Westcoast natural gas pipeline system, the company said Thursday. Under the agreement, KKR and funds managed by Apollo will fund the expansions in exchange for a cumulative indirect 29% interest in the Westcoast system upon the Sunrise program entering service, the company said. The Aspen Point Expansion Program is expected to enter service in 2026, followed by the Sunrise Expansion Program in late 2028, Enbridge said. Enbridge will retain majority ownership and operational control of the Westcoast system and continue to execute the expansion projects, it said. Enbridge will also have an option to repurchase the investors' interest in the joint venture at any time between the seventh and 14th years following closing, the company said.