OTTAWA (dpa-AFX) - Enbridge Inc. (ENB.TO, ENB) has entered into a definitive
agreement with WhiteWater/I Squared Capital and MPLX LP 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 demand. The joint venture will be owned by: WhiteWater/I Squared - 50.6%;
MPLX - 30.4%; and Enbridge - 19.0%.

Upon closing, Enbridge will contribute its Rio Bravo pipeline project and
approximately $350 million in cash to the joint venture, and will fund the first
approximately $150 million of the post-closing capex to complete the Rio Bravo
pipeline project. Enbridge will receive a 19% equity interest in the joint
venture and retain a 25% economic interest in the Rio Bravo pipeline project.



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