DT Midstream advances Viking transmission expansion, interstate pipeline upgrades
(UI) — DT Midstream has reached final investment decisions (FID) on two pipeline projects — an expansion of Viking Gas Transmission and the next phase of its interstate pipeline modernization program — as the company positions itself for continued natural gas infrastructure growth.
The FIDs come as DT Midstream reported record 2025 results and expanded its organic project backlog by approximately 50% to $3.4 billion over the next five years, with pipeline projects comprising 75% of that backlog.
David Slater, Executive Chairman and CEO, said the company’s growth strategy remains centered on pipeline expansion and modernization.
“As a result of our disciplined execution of a focused strategy, we achieved record results in 2025, with 17% year-over-year Adjusted EBITDA growth. It was a great team effort, and I want to thank each employee for their contribution,” Slater said. “We successfully completed the integration of our Midwest pipelines and completed key organic growth projects ahead of schedule and on budget. We are very well positioned to serve the increasing demand across our footprint and continue our track record of premium, high-quality natural gas pipeline growth.”
The approved Viking expansion will increase transportation capacity on the company’s system, while the interstate modernization program continues efforts to enhance safety, reliability and operational efficiency across its pipeline network.
DT Midstream reported full-year 2025 adjusted EBITDA of $1.138 billion, a 17% increase from 2024. The company also raised its quarterly dividend by 7% to $0.88 per share.
“Our increased organic project backlog, and strong investment grade balance sheet give us high confidence in meeting our goals for this year and beyond,” said Jeff Jewell, Executive Vice President and CFO. “Our Adjusted EBITDA guidance for 2026 is $1.155 to $1.225 billion, representing 6% annual growth from our 2025 original guidance. Our 2027 Adjusted EBITDA early outlook range is $1.225 to $1.295 billion.”
With two new pipeline projects advancing and backlog expanding, DT Midstream said it remains focused on serving rising natural gas demand across the Southern, Northeastern and Midwestern U.S. and Canada.
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