On Tuesday, Canadian pipeline operator Enbridge Inc. publicly revealed its plans to purchase three natural gas companies from U.S. energy company Dominion Energy, Inc.
Worth $14 billion between $4.6 billion in debt and $9.4 billion in cash, the deal is set to make Enbridge Inc. the largest natural gas utility platform on the North American continent.
The deal will place the Questar Gas Company, East Ohio Gas Company and Public Service Company of North Carolina, Inc. under Enbridge’s roster.
“Adding natural gas utilities of this scale and quality, at a historically attractive multiple, is a once in a generation opportunity,” said Enbridge CEO Greg Ebel.
