
(Source: Shutterstock)
North American midstream company Enbridge (ENB) became the U.S.’ largest natural gas utility on Oct. 1 post closing the $3.1 billion acquisition of gas provider Public Service Co. of North Carolina (PSNC).
With the deal’s closing, Enbridge is, by volume, the largest gas utility in North America, delivering 9 Bcf/d of natural gas to a base of about 7 million customers, according to Enbridge’s website.
PSNC, formerly owned by Dominion Energy, serves more than 600,000 customers in the central and western regions of North Carolina, including cities Raleigh, Durham, Gastonia and Asheville.
The company’s assets include more than 13,000 miles of distribution and transmission pipelines and an LNG storage facility under construction, according to Enbridge’s announcement of the closing.
“We are pleased to finalize the acquisition from Dominion Energy of three growing gas utilities, by welcoming PSNC to Enbridge,” said Michele Harradence, Enbridge executive vice president and president for gas distribution and storage. “The values and operations of our businesses are strongly aligned, and we share a deep commitment to the continued safe delivery of reliable, affordable natural gas to our customers.”
In September 2023, Enbridge announced a $14 billion deal with Dominion Energy for three gas utilities. Enbridge said the deal raised the scale of the company’s gas utility business to about 22% of its total adjusted EBITDA and would balance out the company’s assets between natural gas, renewables and liquids.
In June 2024, Enbridge closed the $4.3 billion acquisition of Questar Gas in the Northwestern U.S. In March, the company finalized its first U.S. utility purchase when it closed a $6.6 billion deal for East Ohio Gas Co., which serves about 1.2 million Ohio customers.
Recommended Reading
Liberty Energy, DC Grid to Collaborate on Turnkey Power Solutions
2025-01-08 - Liberty Energy’s power solutions and DC Grid’s direct current systems will offer rapidly deployed, scalable and sustainable power for data centers, among other uses.
Liberty Capitalizing on Power Generation as Completions Stay Flat
2025-01-31 - New Liberty Energy Inc. CEO Ron Gusek says company is ‘uniquely positioned’ to deliver modular units for data centers.
Partnership to Deploy Clean Frac Fleets Across Permian Basin
2024-12-13 - Diamondback Energy, Halliburton Energy Services and VoltaGrid are working together to deploy four advanced electric simul-frac fleets across the Permian in an effort to enhance clean and efficient energy solutions in the region.
Blackstone Buys NatGas Plant in ‘Data Center Valley’ for $1B
2025-01-24 - Ares Management’s Potomac Energy Center, sited in Virginia near more than 130 data centers, is expected to see “significant further growth,” Blackstone Energy Transition Partners said.
Cummins, Liberty Energy to Deploy New Engine for Fracking Platform This Year
2025-01-29 - Liberty Energy Inc. and Cummins Inc. are deploying the natural gas large displacement engine developed in a partnership formed in 2024.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.