SUBSCRIBE
PROFILE

ONEOK sells three natural gas pipelines to DT Midstream for $1.2 billion

ONEOK announces the sale of its three interstate natural gas pipelines to DT Midstream for $1.2 billion, a transaction aimed at optimizing its asset portfolio and strengthening its financial flexibility.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99$/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

ONEOK, Inc. (NYSE: OKE), a leading player in North American energy infrastructure, has finalized a definitive agreement with DT Midstream, Inc. (NYSE: DTM) for the sale of its three interstate natural gas pipelines. This transaction, valued at a total of $1.2 billion in cash, is designed to optimize ONEOK’s capital allocation priorities and aligns with its overall asset portfolio strategy.

The pipelines included in this sale are:

– Guardian Pipeline, L.L.C., serving the Chicago hubs in Illinois and providing natural gas to local distribution companies and power generation facilities in Wisconsin.

– Midwestern Gas Transmission, a bidirectional system connecting Tennessee with multiple interstate pipelines, granting access to the Utica and Marcellus shale regions, as well as the Chicago hub.

– Viking Gas Transmission, another bidirectional system linking Canada to the U.S. through Wisconsin.

Strategic assets for DT Midstream

DT Midstream, a company specializing in natural gas transportation and storage, gains strategic FERC-regulated assets through this acquisition. According to official statements, the purchase price reflects 10.8 times the EBITDA for the twelve months ending June 30, 2024.

This acquisition enhances DT Midstream’s existing network while integrating the expertise of ONEOK’s workforce, who will join DT Midstream’s Tulsa office.

Financial repositioning for ONEOK

ONEOK plans to use the net proceeds from this sale to enhance its financial flexibility and reduce debt. The company aims to achieve a leverage ratio of 3.5 by 2026, consistent with its strategic objectives.

Pierce H. Norton II, CEO of ONEOK, stated that this transaction aligns with the company’s portfolio streamlining approach, enabling it to remain a leading and diversified energy infrastructure provider.

  • Popular on energynews.pro
Green Plains injects CO2 from Nebraska into Wyoming and receives $14mn payment
Waaree secures 288 MWp order for two solar projects in Texas
NOG acquires 49% stake in Utica gas assets for $588mn with Infinity
BHP sells 49% of its Pilbara power network to GIP for $2 billion
Cybele Energy invests $17mn to explore offshore oil block in Guyana
IOC seeks spot LNG cargo for Dahej as Russian sanctions tighten
Indian Oil Corporation has issued a tender for a spot LNG cargo to be delivered in January 2026 to Dahej, as Asian demand weakens and Western restrictions on Russian gas intensify.
McDermott secures EPCIC contract for gas project offshore Brunei
McDermott has secured a major engineering, procurement, construction, installation and commissioning contract for a strategic subsea gas development offshore Brunei, strengthening its presence in the Asia-Pacific region.
Fluor and JGC deliver second LNG Canada unit in Kitimat
The partnership between Fluor and JGC has handed over LNG Canada's second liquefaction unit, completing the first phase of the major gas project on Canada’s west coast.
Sanctioned Russian LNG vessel delivers to China’s Beihai port
China has received its first liquefied natural gas shipment from Russia’s Portovaya facility, despite growing international sanctions targeting Russian energy exports.
Brazil’s free gas market reaches 13.3 Mcmd with unprecedented industrial shift
Brazil’s natural gas market liberalisation has led to the migration of 13.3 million cubic metres per day, dominated by the ceramics and steel sectors, disrupting the national competitive balance.
Sasol inaugurates gas processing unit to supply Temane thermal power plant
Sasol has launched a new gas processing facility in Mozambique to secure fuel supply for the Temane thermal power plant and support the national power grid’s expansion.
Congo LNG reaches 3 mtpa and anchors the strategic gas axis between Eni and Europe
With the addition of Nguya FLNG to Tango, Eni secures 3 mtpa of capacity in Congo, locking in non-Russian volumes for Italy and positioning Brazzaville within the ranks of visible African LNG exporters.
JERA signs 10-year LNG supply deal with Torrent Power
Japan’s JERA has signed a liquefied natural gas supply contract with India’s Torrent Power for four cargoes annually from 2027, marking a shift in its LNG portfolio toward South Asia.
NEO NEXT+ becomes the UKCS’s largest gas producer with TotalEnergies and Repsol
The merger of TotalEnergies and Repsol’s UK assets into NEO NEXT+ creates a 250,000 barrels of oil equivalent per day operator, repositioning the majors in response to the UK’s fiscal regime and basin decline.
QatarEnergy steps up pressure on the EU in response to the CSDDD directive
Climate requirements imposed by the European due diligence directive are complicating trade relations between the European Union and Qatar, jeopardising long-term gas supply as the global LNG market undergoes major shifts.
Colombia: electrification could avoid $190mn in gas imports by 2030
A report forecasts that improved industrial energy efficiency and residential electrification could significantly reduce Colombia’s need for imported gas by 2030.
US oil activity slows as gas drives M&A rebound in 2026
Falling rig counts and surging natural gas demand are reshaping the Lower 48 energy landscape, fuelling a rebound in gas-focused mergers and acquisitions.
Nigeria unlocks $128 million to repay gas debts
The Nigerian government has approved a payment of NGN185bn ($128 million) to settle debts owed to gas producers, aiming to secure electricity supply and attract new investments in the energy sector.
Riley Permian sells New Mexico gas project for $111 million
Riley Exploration Permian has finalised the sale of its Dovetail Midstream entity to Targa Northern Delaware for $111 million, with an additional conditional payment of up to $60 million. The deal also includes a future transfer of equipment for $10 million.
Stanwell secures exclusivity on 1,860 MW hybrid energy project in Gladstone
Stanwell has secured an exclusive agreement with Quinbrook for the development of the Gladstone SDA Energy Hub, combining gas turbines and long-duration battery storage to support Queensland’s electricity grid stability.
US LNG profitability under pressure as domestic prices surge
The growth of US liquefied natural gas exports could slow if rising domestic costs continue to squeeze margins, as new volumes hit an already saturated global market.
Turkmenistan seeks to expand gas export routes beyond China
Turkmenistan is leveraging the Global Gas Centre to build commercial links in Europe and South Asia, as it responds to its current dependence on China and a shifting post-Russian gas market.
BOTAŞ strengthens LNG capacity with expansion of Marmara Ereğlisi terminal
The Marmara Ereğlisi liquefied natural gas (LNG) terminal operated by BOTAŞ is increasing its regasification capacity, consolidating Türkiye’s role as a regional player in gas redistribution toward the Balkans and Southeast Europe.
Hungary to launch legal challenge after EU agreement on ending Russian gas imports
Budapest contests the European agreement to ban Russian natural gas imports by 2027, claiming the measure is incompatible with its economic interests and the European Union's founding treaties.
Europe enacts the end of Russian gas and enforces a total reshaping of its gas market
The European Union has enshrined in law a complete ban on Russian gas by 2027, forcing utilities, operators, traders and states to restructure contracts, physical flows and supply strategies under strict regulatory pressure.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

START - 99$/year

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.