DT Midstream closes binding open season for Guardian Pipeline expansion

Published 02/10/2025, 21:14
DT Midstream closes binding open season for Guardian Pipeline expansion

DETROIT - DT Midstream, Inc. (NYSE:DTM), a midstream company with a market capitalization of $11.49 billion, announced Thursday it has closed a binding open season for its Guardian Pipeline expansion, awarding capacity to five shippers totaling 328,103 Dth per day with a targeted in-service date of November 1, 2028. According to InvestingPro data, the company has demonstrated strong momentum with a 44.42% return over the past year.

This newly awarded capacity, combined with expansion capacity previously awarded in July 2025, totals 536,903 Dth per day, representing approximately a 40% increase from Guardian’s current capacity of about 1.3 Bcf per day.

"The strong interest in this expansion capacity is an indication of the growing demand for natural gas in Wisconsin and the Upper Midwest region where our pipelines are well-positioned," said David Slater, President and CEO of DT Midstream.

Guardian Pipeline, which is 100% owned by DT Midstream, spans approximately 260 miles and serves key Wisconsin demand centers. The interstate pipeline interconnects with DT Midstream’s Midwestern Gas Transmission pipeline and Vector Pipeline.

DT Midstream provides natural gas transportation, storage and gathering services across the Southern, Northeastern and Midwestern United States and Canada. The Detroit-based company serves utilities, power plants, marketers, large industrial customers and energy producers.

According to the press release statement, the company is working toward net zero greenhouse gas emissions by 2050, with a plan to achieve 30% of its carbon emissions reduction by 2030.

In other recent news, DT Midstream reported its second-quarter 2025 earnings, surpassing Wall Street expectations. The company achieved an earnings per share of $1.04, slightly above the forecasted $1.03. Revenue reached $299 million, exceeding the anticipated $294.39 million. In addition to its earnings report, DT Midstream appointed Joseph P. Finland as chief accounting officer, effective September 17, 2025. Finland joined the company in July 2021 as director of financial planning and analysis and later became director of accounting and tax. Before joining DT Midstream, he was manager of business forecasting and reporting at DTE Energy Company. These developments reflect the company’s ongoing strategic and financial adjustments.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.