National Fuel Gas Company reviews plan to separate business units

National Fuel Gas Company announced that its board is reviewing a plan to restructure the company into two publicly traded businesses. This proposed transaction would separate the company’s Integrated Upstream and Gathering (IUG) operations from its regulated utility, pipeline, and storage businesses. The company is also pursuing the acquisition of CenterPoint Energy’s business, which operates across Ohio, Pennsylvania, and New York, expected to close on October 1.

The review of the split aims to allow the company’s regulated assets to be valued as a dedicated utility and infrastructure business. If pursued, the acquisition would add roughly 335,000 customers, bringing National Fuel’s utility customer base to about 1.1 million across the three states.