Enbridge increases gas utility portfolio with closing of EOG acquisition from Dominion Energy
(UI) – Enbridge Inc. announced the closing of its acquisition of The East Ohio Gas Company ("EOG") from Dominion Energy, Inc. The gas utility will be doing business as Enbridge Gas Ohio and will join Enbridge's Gas Distribution and Storage Business Unit.
EOG is a premier single-state utility, serving over 1.2 million customers across more than 400 communities in Ohio, with key locations in major metropolitan areas. The gas utility has a robust portfolio of assets, including over 22,000 miles (over 35,400 km) of transmission, gathering and distribution pipelines, underground storage, and interconnections to multiple interstate pipelines and large natural gas producers.
"Natural gas utilities have long useful lives and are 'must-have' infrastructure for providing safe, reliable, and affordable energy. This gas utility will help blend and extend our cash flow growth outlook through the end of the decade by adding a steady, regulated investment that supports our long-term dividend profile,” said Michele Harradence, Enbridge Executive Vice President and President, Gas Distribution and Storage.
“With this acquisition, Enbridge has all four of its business units represented in Ohio, providing further value-add opportunities. We welcome EOG and its employees into the Enbridge family of companies and look forward to building long-term productive relationships with all stakeholders in Ohio and continuing to offer Ohio customers the same safe, reliable service they are accustomed to."
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