Enbridge to buy three dominion utilities for US$14 billion

Pipeline operator Enbridge Inc. agreed to buy three natural gas utilities from Dominion Energy Inc. for US$14 billion.

The deal will create North America’s largest natural gas utility platform, Calgary-based Enbridge said in a statement Tuesday.

Enbridge’s proposed takeover of the East Ohio Gas Company, Questar Gas Company and Public Service Company of North Carolina is the latest deal to arise from Dominion’s corporate review. It comes nearly two months after it agreed to sell a US$3.3 billion stake in a Maryland liquefied natural gas export project to Berkshire Hathaway Energy. 

Dominion shares rose 2.6 per cent in after-hours trading.