Newspaper article The Canadian Press

Enbridge Rethinks U.S. Natural Gas Business as Q1 Revenue Plunges

Newspaper article The Canadian Press

Enbridge Rethinks U.S. Natural Gas Business as Q1 Revenue Plunges

Article excerpt

Enbridge rethinks U.S. natural gas business

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HOUSTON - Enbridge Energy Partners LP is looking at a possible sale of its main natural gas business in the United States, which has experienced a 51 per cent decline in first-quarter revenue and a higher operating loss compared with last year.

The Enbridge-run limited partnership, which is primarily involved in transporting oil from Western Canada and North Dakota, says it is reviewing its holdings in Midcoast Energy Partners and Midcoast Operating LP -- its main natural gas holdings.

Enbridge Energy Partners also announced a 43 per cent decline in net income and a 26 per cent decline in overall revenue in the first quarter, mainly attributed to weakness in natural gas.

Total revenue was US$1.06 billion, including $431. …

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