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Piedmont is not Duke’s first foray into natural gas. Duke spun off Spectra Energy, which operates pipelines and other natural gas infrastructure, in January 2007 after its 2006 merger ...
Duke Energy said it would buy natural gas distributor Piedmont Natural Gas, its partner in the $5 billion Atlantic Coast Pipeline, for $4.9 billion in cash.
The acquisition, pending regulatory approvals, will result in the creation of a new business unit, Spire Tennessee.