Enbridge, a Canadian company, is buying Dominion Energy's Utah operations as part of a $14 billion deal.
A Dominion Energy crew works on a gas line replacement project along 200 South and Lincoln Street in Salt Lake City on Tuesday, Oct. 25, 2022. Canadian company Enbridge has announced its purchase of Dominion Energy's Utah operations, as well as interests in North Carolina and Ohio.Utah’s largest supplier of natural gas is heading to new ownership after Alberta, Canada-based Enbridge announced this week that it is buying Dominion Energy’s Utah operations.
“We move about 30% of the crude oil produced in North America, we transport nearly 20% of the natural gas consumed in the U.S., and we operate North America’s third-largest natural gas utility by consumer count,” Calgary-based Enbridge states onThe sale will include Dominion’s Utah exploration and development arm, Wexpro, which supplies much of the gas Utahns burn. Including Wexpro, Dominion employs about 1,000 people in the state.
The $14 billion deal also includes East Ohio Gas and Public Service Co. of North Carolina. Enbridge is paying $9.4 billion in cash and assuming $4.6 billion of Dominion’s debt. Dominion’s Utah operations constitute $4.3 billion of the price, including $3 million in cash and $1.3 billion in debt. “Closing of each transaction is expected to occur following receipt of each respective state regulatory approval, as required, and are not cross-conditioned upon each other,” the company said.
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