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Dominion Energy sells three U.S. natural gas distribution companies to Enbridge in $14b deal
Transactions - SEPTEMBER 11, 2023

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Dominion Energy sells three U.S. natural gas distribution companies to Enbridge in $14b deal

by Kali Persall

Dominion Energy has concluded a robust, competitive sale process, executing three separate definitive agreements to sell its three natural gas distribution companies to Enbridge, a multinational pipeline and energy company headquartered in Calgary, Canada, in a $14 billion deal.

The transaction consisted of $9.4 billion of cash consideration and $4.6 billion of assumed debt, subject to customary closing adjustments.

The East Ohio Gas Company, Public Service Company of North Carolina and Questar Gas Co., along with Wexpro Company, serve about 3 million homes and businesses in Ohio, North Carolina, Utah, Wyoming and Idaho. They collectively comprise 78,000 miles of natural gas distribution, transmission, gathering and storage pipelines; more than 62 Bcf (billions of cubic feet) of working underground and liquefied natural gas storage capacity; and approximately 400 bcf equivalent (Bcfe) of cost-of-service regulated gas reserves, as of the end of 2022.

Enbridge sai

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