Sept 9 (Reuters) – Enbridge said on Wednesday it will acquire Tallgrass Energy’s crude oil business for $2.55 billion in cash, expanding its U.S. liquids pipeline network with the purchase of a majority stake in the Pony Express Pipeline and other assets.
The Canadian pipeline operator said the deal would strengthen its presence in key U.S. crude-producing regions, including the Bakken, Powder River and Denver-Julesburg basins, while creating operational synergies with its existing Express-Platte pipeline system.
Pipeline operators such as Enbridge are benefiting from rising demand for natural gas, utility infrastructure and power supply for data centers, allowing the company to generate steady growth even amid geopolitical tensions and commodity price volatility.
The transaction is expected to close later in 2026.
(Reporting by Pooja Menon in Bengaluru; Editing by Tasim Zahid)
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