Gas Distribution and Storage (GDS)

North America’s largest natural gas utility platform


Large tanks and pipes at sunrise

2025 priorities:


1

Ensure safe and reliable operations while delivering energy to our customers

2

Optimize our base business to effectively deliver on our commitments, while seizing growth opportunities across all sectors

3

Execute on our U.S. utility integrations and diversify growth platform

4

Advocate for our business and lead the way in proactive regulatory strategies to ensure positive outcomes

5

Be the first choice for customers, providing innovative solutions to grow the business and support energy evolution


Strategically positioned assets

Largest natural gas utility in North America providing safe, reliable and affordable energy to customers

Diversified growth platform

Capturing natural gas growth opportunities across multiple sectors while providing flexible, resilient underground storage and lower-carbon options when needed

Low-risk investment and EBITDA growth

Diversified utility footprint with strong growth drivers that generate attractive returns and visible growth


Strategy in action


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Completed ~$19B acquisition of three U.S. gas utilities ahead of expectations and invested $2.4B in critical infrastructure to deliver safe, reliable and affordable energy

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Added 75K customers across the utility footprint and enabled 4.3 GW of new power generation