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

The Canadian Press, May 2, 2016 | Go to article overview

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


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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