Dominion sells Questar Gas and Wexpro for $4.3 billion

Dominion Energy has completed the sale of its U.S. natural gas business Questar Gas and its associate Wexpro to Enbridge for approximately $4.3 billion.

Deal consideration includes the assumption of debt and customary closing adjustments.

The transaction was signed in September 2023. It is part of a $14 billion deal between Enbridge and Dominion, involving two other natural gas distribution companies.

Questar Gas’ infrastructure includes more than 33,500 km of natural gas distribution and transmission pipelines, and a liquefied natural gas (LNG) storage facility to increase system reliability.

Wexpro supplies natural gas to Questar Gas under a cost-of-service agreement.

Enbridge said Questar Gas will operate in Utah as Enbridge Gas Utah, in Idaho as Enbridge Gas Idaho and in Wyoming as Enbridge Gas Wyoming.

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Enbridge completed its acquisition of Ohio natural gas company East Ohio Gas in March 2024 for $6.6 billion.

Enbridge’s acquisition of Public Service Company of North Carolina is expected to close later this year, subject to receipt of required regulatory approvals.

Michele Harradence, executive vice president and president of gas distribution and storage for Enbridge, said, “We are excited to welcome another strong gas company to Enbridge. Questar Gas and Wexpro strengthen the scale and breadth of our existing low-risk utility business model and support our long-term dividend growth profile by providing stable, predictable cash flows.

“We welcome Questar Gas and Wexpro employees to the Enbridge family of companies and look forward to building long-term productive relationships with all of their stakeholders in Utah, Wyoming and Idaho.”

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