Enbridge has partnered with private equity firms KKR and Apollo Global Management to fund a 2.7 billion Canadian dollar expansion of its natural gas pipeline system in British Columbia. Under the joint venture agreement, KKR and Apollo will receive a cumulative 29% noncontrolling stake in the network. The investment group will provide up to C$700 million in up-front cash to support Enbridge's sanctioned Aspen Point and Sunrise expansion projects for the Westcoast natural gas pipeline system.

The expansions have already received regulatory approvals and are commercially underpinned by long-term take-or-pay contracts. Enbridge Chief Financial Officer Pat Murray stated the transaction allows the company to efficiently recycle capital, strengthen its balance sheet, and maintain financial flexibility while retaining operational control. The investment comes as governments push to advance major infrastructure projects to spur economic growth and reduce Canada's reliance on U.S. trade.

Enbridge noted the transaction is not material to its 2026 guidance or medium-term outlook.