Enbridge Completes Spectra Energy Acquisition

Enbridge, a Canadian pipeline company and natural gas distributor, has completed its acquisition with Spectra Energy Partners LP. The $3.3 billion move, announced on Aug. 24, makes Spectra Energy an indirect, wholly owned subsidiary of Enbridge.

The combined company increases Enbridge’s presences as a natural gas provider in Canada and the United States. Spectra Energy, based out of Houston, Texas, has 16,000 miles (25,750 km) of transmission pipelines, 170 Bcf (4.8 X 10⁹ m³) of natural gas storage and 5.6 million barrels of crude oil storage.

Before the merger, Enbridge was providing an average of 2.9 million barrels of crude oil per day; accounted for 62% of U.S.-bound Canadian crude oil exports; and moved 22% of all natural gas consumed in the United States.