DT Midstream Inc

DT Midstream, Inc. (NYSE: DTM) is an owner, operator, and developer of natural gas interstate and intrastate pipelines, storage and gathering systems, compression, treatment, and surface facilities. The company transports natural gas for utilities, power plants, marketers, large industrial customers, and energy producers across the Southern, Northeastern, and Midwestern United States and Canada. DT Midstream offers a comprehensive wellhead-to-market array of services including natural gas transportation, storage, and gathering. The company operates through two reportable segments: Pipeline (approximately 70% of Adjusted EBITDA) and Gathering (approximately 30%). Key assets include the LEAP pipeline system in the Haynesville basin with 2.1 Bcf/d capacity (expandable to approximately 4 Bcf/d), the Millennium Pipeline, Guardian Pipeline, Viking Gas Transmission, NEXUS Pipeline, Vector Pipeline, Stonewall pipeline, Blue Union gathering system, and Appalachia gathering assets including Susquehanna, Tioga, and Ohio Utica systems. The company maintains approximately 95% demand-based contracts with an average contract tenor of approximately 8 years and has a $3.4 billion organic capital project backlog extending through 2030. DT Midstream is positioned to benefit from growing natural gas demand driven by LNG exports, data center power generation, coal plant retirements, and industrial corridor expansion along the Gulf Coast. Updated Jul 30, 2026