DT Midstream is a pure-play natural-gas infrastructure company — it owns the pipelines, storage fields and gathering systems that move gas out of the Haynesville and Appalachian basins to utilities, power plants and Gulf Coast LNG. It earns fixed, take-or-pay fees rather than betting on the gas price, which is why ~1.14B of adjusted EBITDA is largely contracted. Spun off from DTE Energy in 2021.
What DT Midstream, Inc. really sells
DT Midstream is a pure-play natural-gas infrastructure company — it owns the pipelines, storage fields and gathering systems that move gas out of the Haynesville and Appalachian basins to utilities, power plants and Gulf Coast LNG. It earns fixed, take-or-pay fees rather than betting on the gas price, which is why ~1.14B of adjusted EBITDA is largely contracted. Spun off from DTE Energy in 2021.