[fa icon="calendar'] Aug 1, 2019 1:24:00 PM / by Jaclyn Tino posted in News, acquisition, Columbia Midstream
[fa icon="calendar'] Jul 2, 2019 11:15:00 AM / by Kaitlin Killian posted in News, acquisition, Columbia Midstream, TC Energy
VALLEY FORGE, Pa.--(BUSINESS WIRE)-- UGI Corporation (NYSE: UGI) announced that its subsidiary, UGI Energy Services, LLC, has signed a definitive agreement to acquire the equity interests of Columbia Midstream Group LLC, (“CMG”) from a subsidiary of TC Energy Corporation (NYSE: TRP) (“TC Energy”) for approximately $1.275 billion, subject to customary adjustments at closing. CMG holds five gathering systems, with capacity of roughly 2,675,000 MMBtu/day and 240 miles of pipeline, located in the southwestern core of the Appalachian Basin.
A subsidiary of UGI Corporation, UGI Energy Services supplies and markets natural gas, liquid fuels, and electricity to 40,000 customer locations across the Mid-Atlantic and Northeastern US.
We are a supplier, marketer, and midstream services provider – one backed by 135 years of natural gas experience, plus our own expanding energy infrastructure. Along with buying and selling energy commodities at the wholesale level, UGIES owns and operates key electric generation and midstream natural gas assets throughout Pennsylvania.
Our unique capabilities enable highly reliable energy solutions. Our asset-based infrastructure gives us stability as well as valuable insights from across the energy industry. Ultimately, our focus on personalized service helps us develop solutions best suited to unique customer requirements.
With headquarters and supply sources near the heart of the Marcellus Shale, UGIES is well positioned to meet the changing energy demands of commercial, industrial, institutional, and government customers for years to come.
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