Mr. Al Monaco of Enbridge reports

ENBRIDGE ANNOUNCES SALE OF CANADIAN NATURAL GAS GATHERING & PROCESSING BUSINESSES FOR $4.31 BILLION

Enbridge Inc. has entered into definitive agreements to sell its Canadian natural gas gathering and processing business in the Montney, Peace River Arch, Horn River and Liard basins in British Columbia and Alberta to Brookfield Infrastructure Partners LP and its institutional partners for a cash purchase price of $4.31-billion, subject to customary closing adjustments and receipt of regulatory approvals.

The G&P business includes 19 natural gas processing plants and liquids handling facilities, with a total operating capacity of 3.3 billion cubic feet per day and 3,550 kilometres of natural gas gathering pipelines.

"When combined with asset monetizations announced in May, the sale of our Canadian G&P business significantly advances our strategic priority of moving to a pure play regulated pipeline and utility business model," said Al Monaco, president and chief executive officer of Enbridge. "It also demonstrates our focus on prudent capital allocation and ensuring the continued strength of our balance sheet and funding flexibility. With a total of roughly $7.5-billion in asset monetizations announced in 2018, we have more than doubled our initial target of $3-billion."

Separate sale agreements have been entered into for those facilities currently governed by provincial regulations (Alberta and B.C.), and those governed by federal National Energy Board regulations. The transaction involving the sale of the provincially regulated facilities is expected to close in 2018, while the transaction involving the sale of the federally regulated facilities is anticipated to close in mid-2019.

Proceeds from these transactions provide significant additional financing flexibility going forward as the company continues to execute on its current portfolio of secured growth projects. The company's outlook for DCF/share through 2020 and its target credit metrics remain unchanged as a result of these asset sales.

Enbridge will continue to hold its highly strategic long haul regulated natural gas transmission assets which include the Westcoast transmission system in British Columbia and the Alliance pipeline that carries natural gas from Western Canada to the Chicago market.

Brookfield intends to maintain the Canadian G&P work force and anticipates that employees will remain with the G&P business upon transaction close.

"I'd like to thank our colleagues at the G&P business, who have done an exceptional job building and expanding a substantial gathering and processing franchise while operating the business safely and reliably day in and day out," added Mr. Monaco. Enbridge will work with Brookfield to ensure a safe and orderly transition of the G&P business's operations.

RBC Capital Markets acted as financial adviser and Torys LLP acted as legal adviser to Enbridge on the transaction.

About Enbridge Inc.

Enbridge is North America's premier energy infrastructure company with strategic business platforms that include an extensive network of crude oil, liquids and natural gas pipelines, regulated natural gas distribution utilities, and renewable power generation. The company safely delivers an average of 2.8 million barrels of crude oil each day through its Mainline and Express pipeline; accounts for approximately 65 per cent of U.S.-bound Canadian crude oil exports; and moves approximately 20 per cent of all natural gas consumed in the U.S., serving key supply basins and demand markets. The company's regulated utilities serve approximately 3.7 million retail customers in Ontario, Quebec and New Brunswick.

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