ATLANTA, GEORGIA (By Chad Archey, Energy Analytics Institute, 27.Aug.2026, Words: 229) — Enbridge Inc. entered into a definitive agreement with KKR to form a new joint venture (JV), subject to the satisfaction of customary closing conditions, led by capital accounts advised by KKR, in collaboration with funds and affiliates managed by Apollo.
The JV will fund the previously sanctioned Aspen Point and Sunrise expansion programs of the Westcoast natural gas pipeline system.
Per the agreement, KKR and Apollo will invest C$2.7bn to fund the expansions, including C$0.7bn of cash to Enbridge at closing, in exchange for an indirect, cumulative 29% interest in the aggregate Westcoast system upon Sunrise entering service, Enbridge announced on 27 Aug. 2026 in an official statement.
Enbridge will retain majority ownership and operational control over the Westcoast system, including responsibility for executing the expansions. Enbridge also has the option to repurchase the investors’ interest in the JV at any time between the seventh and fourteenth year following close.
The Aspen Point expansion program is expected to enter service in 2026, followed by the Sunrise expansion program, in late 2028.
The expansions have regulatory approval and are commercially underpinned by long-term take-or-pay contracts.
The investors will begin receiving distributions as each expansion project enters service.
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By Chad Archey reporting from Atlanta. © 1999-2026 Energy Analytics Institute (EAI) and its 100% owned Venezuelan affiliate Editores Latin Petroleum CA. All Rights Reserved.
