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Enbridge to Enter into JV Connecting Permian Basin Natural Gas Supply to Growing LNG and USGC Demand
Enbridge to Enter into JV Connecting Permian Basin Natural Gas Supply to Growing LNG and USGC Dem...
About this update from Enbridge Inc.
[{"type":"text","content":"\n \n \n \n Enbridge to Enter into JV Connecting Permian Basin Natural Gas Supply to Growing LNG and USGC Demand\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnml6{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.50em !IMPORTANT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n March 26, 2024\n \n \n /CNW/ - Enbridge Inc. (\"Enbridge\") (TSX: ENB) (NYSE: ENB) announced today that it has entered into a definitive agreement with WhiteWater/I Squared Capital (\"WhiteWater/I Squared\") and MPLX LP (\"MPLX\") to form a joint-venture that will develop, construct, own, and operate natural gas pipeline and storage assets connecting Permian Basin natural gas supply to growing LNG and U.S. Gulf Coast (\"USGC\") demand.\n \n \n \n Highlights:\n \n \n \n \n Acquiring a meaningful, strategic equity interest in the joint venture\n \n \n Immediately accretive to DCF per share, with ~90% contracted cash flows\n \n \n Receiving immediate, recurring, and growing cash flow from operating assets with minimal commodity exposure\n \n \n Optimizes balance sheet by increasing EBITDA and reducing Enbridge's share of future\n \n Rio Bravo\n \n pipeline project capex proportional to its economic interest in that project\n \n \n Embedded organic expansion opportunities provides attractive growth options and diversifies offtake\n \n \n \n The joint venture will be owned by WhiteWater/I Squared (50.6%), MPLX (30.4%), and Enbridge (19.0%) and will include the following assets:\n \n \n \n 100% interest in Whistler pipeline, a ~450-mile, 42-inch intrastate pipeline transporting natural gas from an interconnect with the Waha Header in the Permian Basin to\n \n Agua Dulce, TX\n \n , near the starting point of...