The Calgary-based oil company will form a joint venture with the U.S. investment giants for the Sunrise and Aspen Point expansions, a pipeline network connecting natural gas fields in northern B.C. and Alberta to customers in the south of those provinces and the northwestern U.S. Under the agreement, KKR and Apollo will invest $2.7 billion for a 29 per cent stake in the system. The total project cost is expected to reach about $4 billion. (The Logic)

Talking point: The federal government gave Enbridge approval to add 139 kilometres to the Westcoast pipeline system in April. The KKR-Apollo agreement is an example of the kind of major infrastructure deals the government is pursuing with its Investment Summit next month. KKR and Apollo executives will be among those attending the event, which is part of Ottawa’s effort to attract more than $500 billion in private-sector investments over the next five years. Enbridge said investors will begin receiving cash payments as each expansion project enters service. The Aspen Point expansion is set to begin operating later this year, followed by Sunrise in late 2028. 

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