LONG-TERM INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]


	Ownership
December 31,	Interest		2023	2022
(millions of Canadian dollars)
EQUITY INVESTMENTS
Liquids Pipelines
MarEn Bakken Company LLC1	75.0	%	1,819	1,968
DCP Midstream, LLC (Class B Units)2	90.0	%	1,486	1,394
Seaway Crude Holdings LLC	50.0	%	2,661	2,744
Illinois Extension Pipeline Company, L.L.C.3	65.0	%	584	622
Cactus II Pipeline LLC4	30.0	%	618	658
Other	30.0% - 43.8%		84	76
Gas Transmission and Midstream
Alliance Pipeline5, 7	50.0	%	359	430
Aux Sable6, 7	42.7% - 50.0%		229	214
DCP Midstream, LLC (Class A Units)8	23.4	%	367	317
Gulfstream Natural Gas System, L.L.C.	50.0	%	1,224	1,274
NEXUS Gas Transmission, LLC	50.0	%	1,220	1,813
Sabal Trail Transmission, LLC	50.0	%	1,467	1,535
Southeast Supply Header, LLC	50.0	%	80	86
Steckman Ridge, LP	50.0	%	87	91
Vector Pipeline9	60.0	%	191	195
Woodfibre LNG Limited Partnership10	30.0	%	777	635
Offshore - various joint ventures	22.0% - 74.3%		217	314

Gas Distribution and Storage
Other	30.0% - 50.0%		22	20
Renewable Power Generation
EIH S.à r.l.11	51.0	%	52	37
Hohe See and Albatros Offshore Wind Facilities	49.9	%	1,701	163
Rampion Offshore Wind Limited	24.9	%	391	413
East-West Tie Limited Partnership	24.1	%	132	241
Fox Squirrel Solar LLC	50.0	%	312	—
Other	16.4% - 50.0%		110	107
OTHER LONG-TERM INVESTMENTS
Gas Transmission and Midstream
Ara Divert HoldCo, Inc.			106	—
Other			22	22
Gas Distribution and Storage
Other			24	48
Renewable Power Generation
Other			21	31
Eliminations and Other
Other12			430	488
			16,793	15,936

1Owns a 49.0% interest in Bakken Pipeline Investments LLC. Bakken Pipeline Investments LLC owns 75.0% of the Bakken Pipeline System, resulting in a 27.6% effective interest in the Bakken Pipeline System by us.

2We own 90.0% of the Class B units of DCP Midstream, LLC. These units track to a 65.0% ownership in Gray Oak Pipeline, LLC (Gray Oak), resulting in a 58.5% effective interest in Gray Oak by us. On January 9, 2023, we acquired an additional 10.0% direct interest in Gray Oak for cash consideration of $230 million (US$172 million), bringing our effective interest to 68.5%.

3Owns the Southern Access Extension Project.

4On October 12, 2021, we acquired a 20.0% equity interest in Cactus II through the Moda Acquisition (Note 8). On November 2, 2022, we acquired an additional 10.0% ownership in Cactus II for cash consideration of $241 million (US$177 million), bringing our total non-operating ownership to 30.0%.

5Includes Alliance Pipeline Limited Partnership in Canada and Alliance Pipeline L.P. in the US.

6Includes Aux Sable Canada LP in Canada and Aux Sable Liquid Products L.P. and Aux Sable Midstream LLC in the US.

7On December 13, 2023, we announced that Enbridge had entered into a definitive agreement to sell its 50.0% interest in the Alliance Pipeline and interest in Aux Sable to Pembina Pipeline Corporation for $3.1 billion, including approximately $0.3 billion of non-recourse debt, subject to customary closing adjustments.

8We own 23.4% of the Class A units of DCP Midstream, LLC. These units track to a 56.5% ownership in DCP Midstream, LP (DCP), resulting in a 13.2% effective interest in DCP by us.

9Includes Vector Pipeline Limited Partnership in Canada and Vector Pipeline L.P. in the US.

10 On November 29, 2022, we acquired an effective 30.0% interest in Woodfibre LNG Limited Partnership (Woodfibre) for cash consideration of $533 million (US$392 million). Woodfibre will operate a LNG export facility in BC being constructed by us and our partners.

11 Owns a 50.0% interest in Éolien Maritime France SAS (EMF). Through our investment in EMF, we own equity interests in three French offshore wind projects, including effective interests in Saint-Nazaire (25.5%), Fécamp (17.9%) and Calvados (21.7%).

12 Consists of investments in exchange-traded funds and debt securities held by our wholly-owned captive insurance subsidiaries. Refer to Note 23 - Risk Management and Financial Instruments.

Schedule of Combined Financial Information

Summarized combined financial information of our unconsolidated equity investments (presented at 100%) is as follows:


Year ended December 31,	2023	20221	20211
(millions of Canadian dollars)
Operating revenues	22,586	30,026	22,551
Operating expenses	17,111	23,835	17,446
Earnings	4,818	5,123	3,656
Earnings attributable to Enbridge	1,816	2,056	1,600


December 31,	2023	20221
(millions of Canadian dollars)
Current assets	5,842	5,328
Non-current assets	61,141	61,393
Current liabilities	6,194	5,631
Non-current liabilities	23,957	23,208
Noncontrolling interests	4,124	4,640

1 Balances have been updated to reflect the impact of revisions made to conform to the current year's presentation. These revisions do not have an effect on our previously reported consolidated statements of earnings, comprehensive income, changes in equity, cash flows or financial position.