Enbridge Inc. (ENB) Selling shares in the West Coast pipeline

Enbridge Inc. (NYSE:enb) It recently revealed that it is selling shares in the West Coast Natural Gas System. Let’s shed some light on development.

A natural gas pipeline that surrounds the countryside.

Enbridge Inc. (NYSE:ENB) is a mid-class energy company focusing on the transport and distribution of oil, natural gas and natural gas fluids. The Canadian company moves around 40% of the crude oil produced in North America.

The Canadian pipeline operator recently announced that it had signed an agreement with an Indigenous Ownership partnership representing 36 First Nations in British Columbia. According to the contract, the Stonlasec8 Indigenous Alliance would pay $715 million ($511.19 million) to acquire a 12.5% ​​stake in Enbridge’s West Coast Pipeline. The transaction is expected to close at the end of the second quarter of 2025. At the time of the closure, this will be the first major investment to receive loan guarantees under Canada’s Indigenous Loan Guarantee Program, announced by the Canadian Government last spring.

Following the agreement, Enbridge Inc. (NYSE:ENB) attacked four share deals with Indigenous groups as part of an Indigenous settlement program launched in 2022.

“Enbridge’s Westcoast Natural Gas Pipeline System is a critical energy infrastructure that has provided people with the energy they need for over 65 years. This transaction provides an opportunity to build relationships with Indigenous communities and advance reconciliation.”

While acknowledging the potential for growth, our belief lies in the belief that some AI stocks hold a greater commitment to delivering higher returns, with limited downside risk. If you’re looking for AI stocks that are more promising than ENB and have a potential of 100x upside, check out our report on this Cheapest AI stocks.

Read next: Buy now 10 cheap energy stocks and According to hedge funds, the 10 most undervalued energy stocks.

Disclosure: None.