Enbridge To Pay $14 Billion For Three U.S. Natural Gas Utilities

Enbridge has struck a deal with Dominion Energy to buy three natural gas utilities from it for a total consideration of $14 billion. The net value of the deal is $9.4 billion but will also involve the assumption of the utilities’ debt. The pipeline operator said in a statement that the acquisition would create the largest natural gas franchise in North America, with the capacity to deliver 9.3 billion cubic meters per day to customers in Ohio, Utah, Wyoming, Idaho, and North Carolina. “Adding natural gas utilities of this scale and…