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Bets on energy transition spark rise in North American pipeline deals

Myles McCormick writes in The Financial Times about North American pipeline deals.

The C3 Take
  • In June Exxon bought pipeline operator Denbury for nearly $5 billion and now controls over 1,300 miles of pipelines which it will use to transport captured carbon to underground storage sites.
  • Canadian pipeline company Enbridge recently bought Dominion Power’s natural gas distribution business for $14 billion. With the purchase Enbridge will invest in low-carbon natural gas while Dominion will turn its focus to renewables.
  • Market signals and the private sector are leading the way to bringing more clean and innovative technologies online.

“TC Energy, the Canadian company behind the abandoned plan to build the controversial Keystone XL crude oil pipeline, is in the process of spinning off its oil business to focus on handling natural gas, a split it said would leave TC ‘uniquely positioned to meet growing industry and consumer demand for reliable, lower-carbon energy.'”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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