Gas Utility Acquisitions a 'Once-In-A-Generation Opportunity' - Seite 2

Among the details of today's acquisitions:

• East Ohio Gas, which serves the cities of Cleveland, Akron, Canton and Youngstown, has about 22,000 miles of transmission, gathering and distribution pipelines, as well as 60 billion cubic feet (Bcf) of natural gas storage.
• Questar, which serves the Utah cities of Salt Lake City, Provo and St. George, has about 21,000 miles of transmission, gathering and distribution pipelines, and enjoys a unique regulated supply agreement with Wexpro, which can supply up to 65% of Questar's gas needs without commodity exposure.
• The Public Service Company of North Carolina, which serves the cities of Raleigh, Durham and Asheville, has about 13,000 miles of transmission, gathering and distribution pipelines.

"Today, and for the long-term, natural gas will remain essential for achieving North America's energy security, affordability and sustainability goals," says Michele Harradence, Enbridge Executive Vice President and the President of our gas utility business. "We are excited to welcome more than 3,000 new employees into the Enbridge family. In addition, we intend to continue the robust social, community and diversity, equity and inclusion initiatives that each gas utility has committed to."

Like Enbridge, all three of these companies have well-developed emission reduction plans, have committed to achieving net-zero greenhouse gas (GHG) emissions by 2050, and are already exploring leveraging the critical energy infrastructure they operate to transport low-carbon energy sources such as renewable natural gas and hydrogen.

"These gas utilities have each committed to achieving net-zero greenhouse gas emissions by 2050, and are expected to play a critical role in enabling a sustainable energy transition," notes Mr. Ebel.

The acquisition of each gas utility is expected to close in 2024.

Foto: Accesswire

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SOURCE: Enbridge

View source version on accesswire.com:
https://www.accesswire.com/782949/gas-utility-acquisitions-a-once-in-a ...


The Enbridge Stock at the time of publication of the news with a raise of +0,20 % to 45,86EUR on Toronto stock exchange (11. September 2023, 21:05 Uhr).