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Eiger Express Pipeline Reaches Final Investment Decision to Transport Growing Natural Gas Production from the Permian Basin to the Gulf Coast Region

1. Enbridge partners on Eiger Express Pipeline to transport natural gas. 2. Pipeline can transport 2.5 Bcf/d from West Texas to Katy area. 3. Matterhorn JV comprises WhiteWater, ONEOK, MPLX, and Enbridge. 4. Construction expected by mid-2028, pending regulatory approvals. 5. Enbridge holds 10% stake in the project via Matterhorn JV.

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FAQ

Why Bullish?

The investment in the Eiger Express Pipeline positions ENB for growth in natural gas transportation. Historical examples, like the expansion of ENB's Line 3 pipeline, show how strategic projects can positively impact stock prices due to increased capacity and revenue potential.

How important is it?

Joint ventures and investments like the Eiger Express Pipeline can significantly enhance ENB's long-term profitability and market positioning, making this news particularly relevant for stakeholders.

Why Long Term?

While the pipeline won't be operational until 2028, the strategic positioning reinforces ENB's market presence. Similar projects in the past have shown that initial investments cultivate future revenue streams and market expansion.

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MPLXOKEWTRG
, /PRNewswire/ -- WhiteWater today announced that WhiteWater, MPLX LP (NYSE: MPLX), ONEOK, Inc. (NYSE: OKE) and Enbridge Inc. (NYSE: ENB), through their Matterhorn joint venture ("Matterhorn JV"), have partnered with affiliates of ONEOK and MPLX and reached final investment decision to move forward with the construction of the Eiger Express Pipeline, having secured sufficient firm transportation agreements with primarily investment grade shippers. The Eiger Express Pipeline is designed to transport up to 2.5 billion cubic feet per day (Bcf/d) of natural gas through approximately 450 miles of 42-inch pipeline from the Permian Basin in West Texas to the Katy area. Supply for the Eiger Express pipeline will be sourced from multiple connections in the Permian Basin, including gas processing facilities in the Midland Basin, and from the Delaware Basin via the Agua Blanca Pipeline, a joint venture between WhiteWater, Enbridge and MPLX. The Eiger Express Pipeline is a joint venture owned 70% by the Matterhorn JV, 15% by ONEOK, and 15% by MPLX. ONEOK's and MPLX's direct ownership interests in the Eiger Express Pipeline joint venture are incremental to their ownership through the Matterhorn JV, resulting in 25.5% and 22% ownership in the pipeline, respectively. The Eiger Express Pipeline will be constructed and operated by WhiteWater and is expected to be in service in mid-2028, pending the receipt of customary regulatory and other approvals. About the Matterhorn Joint VentureThe Matterhorn JV is owned by WhiteWater (65%), ONEOK (15%), MPLX (10%), and Enbridge (10%). The joint venture owns long-haul natural gas pipelines which transport natural gas from the Permian Basin to the Gulf Coast with direct connections to LNG export markets. The Matterhorn JV owns the Matterhorn Express Pipeline and 70% of the Eiger Express Pipeline. WhiteWater's stake in the Matterhorn JV is owned by FIC and I Squared Capital. About WhiteWaterWhiteWater is an Austin, Texas based infrastructure company and operator of multiple gas transmission assets, including the Matterhorn Express Pipeline and the Eiger Express Pipeline. WhiteWater is partnered with multiple private equity funds, including but not limited to FIC and I Squared Capital. For more information about WhiteWater, visit www.wwdev.com. About I Squared CapitalI Squared Capital is a leading global infrastructure investor managing $45 billion in assets. We build and scale essential infrastructure businesses that deliver critical services to millions of people worldwide. Our portfolio includes over 90 companies operating in more than 70 countries and spanning sectors such as energy, utilities, digital infrastructure, transport, environmental and social infrastructure. Headquartered in Miami, our team of over 300 professionals is based across offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney and Taipei. Learn more at www.isquaredcapital.com. About FICFIC Partners Management, LP ("FIC") is an investment firm with a focus on critical infrastructure assets across the energy and power use value chains. FIC focuses on investment opportunities that seek to generate long-term capital appreciation in the gas transmission, downstream, power and utilities, renewables, and data/telecommunications industries. We partner with management teams and businesses to help accelerate the development of strategic assets that serve society's growing energy needs and the associated decarbonization of industrial infrastructure. FIC is the renamed firm following the merger of Emerald Bridge Capital, LP and First Infrastructure Capital Advisors, LLC. For more information about FIC, please visit www.FICfund.com. About ONEOK, Inc.At ONEOK (NYSE: OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation, storage and marine export services. Through our approximately 60,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest integrated energy infrastructure companies in North America, ONEOK is delivering energy that makes a difference in the lives of people in the U.S. and around the world. ONEOK is an S&P 500 company headquartered in Tulsa, Oklahoma. For information about ONEOK, visit the website: www.oneok.com. About MPLX LPMPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. MPLX also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins. More information is available at www.MPLX.com About Enbridge Inc.At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We're investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power to advance new technologies including hydrogen, renewable natural gas and carbon capture and storage. Headquartered in Calgary, Alberta, Enbridge's common shares trade under the symbol ENB on the Toronto (TSX) and New York (NYSE) stock exchanges. To learn more, visit us at enbridge.com. SOURCE WhiteWater WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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