DTE Energy spending $1.3B for natural gas assets in 2 states
Posted September 27, 2016 7:00 am
DETROIT (AP) - DTE Energy Co. plans to spend $1.3 billion for natural gas assets in Pennsylvania and West Virginia.
The Detroit-based company announced Monday that an agreement calls for DTE to purchase all of Appalachia Gathering System in Pennsylvania and West Virginia and 40 percent of Stonewall Gas Gathering in West Virginia from energy company M3 Midstream.
In addition, DTE plans to purchase 15 percent of Stonewall Gas Gathering from Vega Energy Partners.
The assets will become part of DTE's non-utility Gas Storage and Pipeline business, which owns and manages a network of natural gas gathering, transmission and storage facilities serving the Midwest, Northeast and Ontario markets. The deals are expected to be completed this year.
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