NY’s NFG to Acquire CenterPoint’s Ohio NatGas Utility Business $2.6B
Industrywide Issues | LDCs | M&A | Ohio | Statewide OH
Earlier this morning, National Fuel Gas Company, a large utility company headquartered in the Buffalo, NY area with both upstream and midstream subsidiaries (Seneca Resources and NFG Midstream), announced a deal with CenterPoint Energy to acquire CenterPoint’s Ohio natural gas utility business (CNP Ohio) for $2.62 billion. The deal includes 5,900 miles of distribution and transmission pipelines and serves approximately 335,000 residential, commercial, industrial, and transportation customers that consume approximately 60 Bcf of natural gas per year. The deal significantly increases NFG's gas utility customer base, from roughly 750,000 to well over 1 million.To view this content, log into your member account. (Not a member? Join Today!)