WSJ: Dominion Energy, National Grid Pursuing Sale of Natural Gas Pipelines
(Reuters) — Utility firms Dominion Energy and National Grid Plc are separately considering a potential sale of parts of their natural gas pipeline networks, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
Dominion is mulling a sale of its gas-distribution companies serving North Carolina, Ohio and parts of the Western U.S., which combined could be worth $13 billion, the report said.
National Grid on the other hand is exploring a possible sale of part of its pipeline network serving the Northeastern U.S.
The reported moves come at a time when lawmakers and regulators across the United States are debating the future of natural gas for home heating and cooking as more towns and cities look to phase it out. Eliminating natural gas appliances would mean transitioning to electric equipment such as heat pumps.
In response, utilities are working to determine how to modify or repurpose their current natural-gas delivery networks.
Dominion and National Grid's shares on the New York Stock Exchange were trading 0.4% and 1% higher, respectively.
Dominion and National Grid declined to comment when contacted by Reuters.
Related News
- EIA: U.S. Natural Gas Output Expected to Decline as Demand Reaches Record High in 2024
- Woodside Completes $1.2 Billion Acquisition of Tellurian, Renaming Driftwood LNG to Woodside Louisiana LNG
- Colonial Pipeline Allocates Cycle 59 Shipments on Distillate Line 2, Ensuring Product Flow from Atlanta to Nashville
Related News
- Texas Waha Hub Gas Prices Plunge to Record Lows, Hit Negative Territory
- U.S. Appeals Court Strikes Down Controversial Biden Pipeline Safety Rules
- Williams Seeks Emergency Certificate to Operate $1 Billion Mid-Atlantic Gas Pipeline After Court Reversal
- Texas Oil Pipelines Near Max Capacity, Threatening Future Export Limits
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- Saudi Arabia Looking to Expand Pipeline to Reduce Oil Exports via Gulf
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
- Texas Startup Endeavors Again to Build First Major U.S. Oil Refinery Since 1977
- Puerto Bahia, Gasco to Build Liquefied Petroleum Gas Facility in Cartagena, Colombia
- U.S. Court Overturns FERC Approval for NextDecade’s $18 Billion Rio Grande LNG Project
Comments