Even as Ottawa takes steps to curb Alberta’s natural gas industry, Calgary-based Enbridge is doubling down on gas distribution south of the border in what could be called a blockbuster deal.

Canada’s largest oil pipeline operator on Tuesday snapped up three US-based utility companies operating in five states, Ohio, North Carolina, Utah, Wyoming and Idaho for a combined US$14 billion in cash and assumed debt.

When it closes in 2024, Enbridge, which already owns the largest and oldest gas utility in Ontario, becomes the largest in North America, effectively doubling its distribution business.

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