Europe's EDF Trading has acquired ConocoPhillips' Midwest commercial and industrial (C&I) natural gas portfolio, the EDF Group subsidiary said Thursday. Financial details of the transaction were not disclosed.
The C&I business sells nearly 50 Bcf per year to 200 customers, including industrial, commercial, healthcare, governmental and educational institutions in Indiana, Michigan, Illinois, Wisconsin, Ohio and Kentucky, EDF said.
The acquisition will allow EDF to offer power and natural gas to Midwest customers. EDF currently provides retail electricity supply to large C&I clients in Texas, California, New York and Illinois.
"The acquisition will increase the geographical footprint of our retail business and provide added value and convenience to current and future C&I customers in North America," said Mary Anne Brelinsky, head of North American retail at EDF Trading.
Nine employees based in Merrillville, IN, will join EDF Trading's C&I supply team.
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