Canadian oil and natural gas pipeline operator TransCanada Corp has agreed to buy Houston, Texas-based Columbia Pipeline Group that operates a network of about 24 000 km of interstate natural gas pipelines extending from New York to the Gulf of Mexico, with a significant presence in the Appalachia production basin.
“The acquisition represents a rare opportunity to invest in an extensive, competitively-positioned, growing network of regulated natural gas pipeline and storage assets in the Marcellus and Utica shale gas regions,” TransCanada president and CEO Russ Girling stated.
