TransCanada has closed on its $13 billion of Houston-based Columbia Pipeline Group, the Canadian firm announced today. The deal makes TransCanada the largest natural gas storage company in North America and gives it a natural gas footprint in the Marcellus and Utica shale plays. It will be one of North America’s largest regulated gas transmission companies, with approximately 56,100 miles of natural gas pipelines. Columbia will be an indirect wholly owned subsidiary of TransCanada.
TransCanada said it would remain focused on $25 billion in near-term growth projects in Canada, the U.S. and Mexico. The company expects these projects to be in service during the 2016-2018 timeframe.
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