The combined company, which will retain Enbridge’s name, will be headquartered in Calgary, Alberta, Canada. Spectra Energy’s Houston location will serve as the company’s gas pipelines business unit center. The combined company, valued at about $126 billion, will have about 17,000 employees, according to Enbridge.
“The combined company will be positioned to provide integrated services and first- and last-mile connectivity to virtually all key liquids and gas supply basins and demand markets in North America,” says Al Monaco, CEO of Enbridge. “A significant amount of collaboration has allowed us to get to this point. The two companies have completed extensive planning in advance of closing and will be focused on a successful integration.”
The combined company will feature a new board of directors, which will consist of eight members designated by Enbridge, including Monaco, and five members designated by Spectra Energy, including Greg Ebel, CEO of Spectra Energy.