Gas Transmission and Midstream (GTM)

Strategically positioned network with unparalleled connectivity to growing demand

Large building with white pipes on the side

2025 priorities:

Safety diligence: Continue to operate our infrastructure systems safely and reliably

Grow the business: Deliver on increased EBITDA; key focus areas include opportunities that support last-mile connectivity, LNG growth and rising power demand

Successful project execution: Continue to execute our secured growth projects and capital-efficient system expansions and extensions

Protect the base: Continue to optimize rate strategy; drive value for our customers and ensure fair and timely cost recovery through rate proceedings

Strategic M&A: Target strategic, accretive acquisitions that are aligned with our footprint

Last-mile connectivity

Safely, reliably and affordably delivering 20% of the gas in North America to >170 million people, with connectivity from all major supply basins to key North American demand centers

LNG growth

Connectivity to 100% of operating U.S. Gulf Coast LNG export capacity, we are able to deliver ~5 Bcf/d, accounting for 8% of global volumes

Power demand

North America power demand is accelerating and GTM assets are ideally situated next to 45% of North American gas- fired generation, 4GW of new data center demand and 80GW of coal plants

Strategy in action

Progressed USGC strategy with ~$2.3B of Permian and offshore investment

Successful rate case strategy adding ~$0.2B of EBITDA through 2026

Liquids Pipelines

Gas Distribution and Storage