DT Midstream Inc. (DTM) has inked a deal to acquire an additional 26.25% stake in the Millennium Pipeline Co. LLC., a natural gas system, for about $552 million. 


The 263-mile conduit, which entered service in 2008, delivers natural gas from the Marcellus and Utica shales to utility and power plant markets across New York and New England. 

DTM is a founding developer and existing co-owner of the system with a roughly 26% stake.

“Increasing our ownership in a premium integrated asset like Millennium Pipeline directly aligns with our strategic investment thesis and accelerates our growth plan,” said DTM CEO David Slater. “This transaction also increases the revenue contribution from our pipeline segment, underpinned by take-or-pay contracts with high credit quality...