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 April 6, 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.
Recommended Reading
Midstreamers Say Need for More Permian NatGas Pipelines Inevitable
2024-11-26 - The Permian Basin’s associated gas output could outstrip the region’s planned capacity well before the end of the decade, pipeline company executives said.
Federal Regulators Give Venture Global Permission to Introduce Natural Gas Into LNG Plant
2024-11-06 - Federal regulators have given Venture Global LNG permission to introduce natural gas into its Plaquemines export plant in Louisiana.
Matterhorn Express, Partially Online, to Ease Permian Gas Bloat
2024-09-05 - The long-awaited Matterhorn Express pipeline is shipping small amounts of natural gas out of the Permian Basin, according to an E&P CEO.
Electricity and LNG Drive Midstream Growth as M&A Looms
2024-09-26 - The midstream sector sees surging global and domestic demand with fewer players left to offer ‘wellhead to water’ services.
Entergy Picks Cresent Midstream to Develop $1B CCS for Gas-fired Power Plant
2024-09-20 - Crescent will work with SAMSUNG E&A and Honeywell on the project.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.