Enbridge expanded the U.S. Footprint with East Ohio Gas Deal

The acquisitions of Questar and PSNC are pending regulatory approvals specific to each gas utility, with both expected to close within the year

Enbridge Inc. (ENB) has finalized its acquisition of The East Ohio Gas Company (“EOG”) from Dominion Energy, Inc. (D), consolidating its position in the U.S. utility sector. Following the transaction, EOG will operate under the name Enbridge Gas Ohio and will become part of Enbridge's Gas Distribution and Storage Business Unit. The acquisition, valued at $14 billion (C$19.1 billion), is one of several agreements Enbridge signed in 2023 to acquire three natural gas distribution companies from Dominion Energy. This comprises $9.4 billion in cash and $4.6 billion in assumed debt. Enbridge initiated the acquisition process in September 2023, signing definitive agreements with Dominion Energy for EOG, Public Service Co. of North Carolina Inc. (“PSNC”), and Questar Gas Co.

EOG, serving over 1.2 million customers across 400 communities in Ohio, is a vital addition to Enbridge's portfolio. It possesses an extensive network of transmission, gathering, and distribution pipelines, underground storage, and connections to interstate pipelines and gas producers. Upon concluding the Dominion transactions, Enbridge will expand its gas utility operations to Ohio, North Carolina, Utah, Idaho, and Wyoming, significantly strengthening its presence in the U.S. utility sector. The combined utilities, including EOG, will serve approximately 3 million homes and businesses, covering 78,000 miles of pipelines for distribution, transmission, gathering, and storage.