TransCanada has agreed to buy Columbia Pipeline Group for $10.2 billion in cash. The deal will add Columbia Pipeline’s 15,000-mile natural gas pipeline network, which stretches from New York to the Gulf of Mexico, to TransCanada’s portfolio. TransCanada CEO Russ Girling said in a statement the acquisition represents a “rare opportunity” to invest in natural gas and storage assets in the Marcellus and Utica regions. The deal is expected to close in the second half of 2016.
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