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US: Enbridge completes acquisition of Spectra Energy for $28 billion

 |  February 27, 2017

Calgary-based Enbridge completed its $28 billion acquisition of Houston’s Spectra Energy on Monday to create arguably North Americas largest network of oil and gas pipelines.

Enbridge already has replaced the Spectra signage at the old Spectra headquarters at 5400 Westheimer Ct. The merger combines Enbridge’s oil pipeline, rail and electric transmission holdings with Spectra’s 90,000-mile network of gas pipelines.

In the merged company, Enbridge Chief Executive Al Monaco remains in the CEO role, while Spectra CEO Greg Ebel takes over as chairman of the new Enbridge.

Enbridge is waiting until next week to answer questions about the merged pipeline giant, including its plans for consolidating its Houston-area operations.

Spectra was created 10 years as a standalone company after being spun off from Charlotte-based Duke Energy.

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