Tulsa’s Williams Companies has some competition when it comes to being the largest pipeline operator in the country.
With the $28 billion acquisition by Calgary-based Enbridge of Houston’s Spectra Energy, the result is North America’s largest network of oil and gas pipelines. The merger announced on Monday combines Enbridge’s oil pipeline, rail and electric transmission holdings with Spectra’s 90,000-mile network of gas pipelines.
Spectra was created 10 years ago as a standalone company following a spin-off from Duke Energy. Enbridge Chief Executive Al Monaco will remain in the CEO role of the merged company while Spectra CEO Greg Ebel will become chairman of the new Enbridge.
The merger announcement came just days after Enbridge closed on its $1.5 billion purchase of 27.6 percent of the controversial Dakota Access Pipeline.