Spire Sells Natural Gas Storage Assets for $650 Million to Focus on Regulated Utilities

Spire Inc. has entered into a definitive agreement to divest its natural gas storage business in Wyoming and Oklahoma to I Squared Capital for a total consideration of $650 million. This strategic move is designed to sharpen the company's focus on its core regulated natural gas utility operations while significantly improving its overall risk profile. By exiting the non-regulated storage sector, Spire aims to streamline its business model and direct capital toward stable, regulated earnings growth. The transaction is viewed positively by analysts as it de-risks the balance sheet and provides growth capital for the storage assets under new ownership. This divestiture aligns with broader industry trends where utility companies prioritize regulated assets to ensure long-term financial stability. The deal underscores Spire's commitment to optimizing its portfolio for sustainable shareholder value.