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Midcoast, Enbridge partnership exploring strategic alternatives for joint gas business

MidcoastEnergy Partners LP and Enbridge Energy Partners LP are exploring strategicalternatives for MidcoastOperating LP, a gas business they jointly own.

The alternatives being considered include asset sales,mergers, joint ventures, reorganizations, recapitalizations and budget cuts,according to Midcoast's May 2 earnings release, which cited continued lowenergy commodity prices. Enbridge Energy Partners is also reconsidering itsinvestments in Midcoast and Midcoast Operating.

The partnerships do not guarantee that any particularcourse of action will be pursued or put into effect.