National Fuel Gas Company
National Fuel Gas Company is a diversified integrated natural gas operator serving approximately 540,000 regulated utility customers in New York and Pennsylvania through exploration and production (Seneca Resources), gathering (Midstream), interstate pipeline and storage, and regulated gas distribution, with a pending $2.62 billion acquisition expanding into Ohio.
- Company typePublic
- Founded1902
- HeadquartersNew York, United States
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
National Fuel Gas Company firmographics
Firmographics- Name
- National Fuel Gas Company
- Legal name
- National Fuel Gas Company
- Website
- https://nationalfuel.com
- Company type
- Public
- Founded year
- 1902
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- National Fuel Gas Company is a diversified integrated natural gas operator serving approximately 540,000 regulated utility customers in New York and Pennsylvania through exploration and production (Seneca Resources), gathering (Midstream), interstate pipeline and storage, and regulated gas distribution, with a pending $2.62 billion acquisition expanding into Ohio.
- Ownership category
- akta.pro rank
National Fuel Gas Company industry classification
Industry- Product category
- Natural Gas Distribution and Pipeline Transportation
- NAICS
- Natural Gas Distribution (2212), Natural Gas Distribution (221210), Pipeline Transportation of Natural Gas (48621), Natural Gas Distribution (22121)
- SIC
- Natural Gas Transmisison & Distribution (4923), Natural Gas Distribution (4924), Natural Gas Transmission (4922)
- akta.pro primary industry
- Interstate & Intrastate Natural Gas Transmission Pipelines (EUAAACAB)
- akta.pro secondary industries
- Gas Mains (Distribution Pipelines) (EUAJABAA), Citygate/Hub Optimization & Supply Dispatch (Daily Supply Stack) (EUAJAGAG)
Keywords
Where National Fuel Gas Company is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
National Fuel Gas Company business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D, Others
Revenue model
- Utility Segment: Regulated natural gas distribution providing service to residential, commercial, and industrial customers in Western New York and Northwestern Pennsylvania. Revenues are subject to rate regulation by the New York Public Service Commission and Pennsylvania Public Utility Commission. The segment reported net income of $65 million in Q2 FY2026, a 3% increase year-over-year.
- Pipeline & Storage Segment: Interstate natural gas transportation and storage services through National Fuel Gas Supply Corporation and Empire Pipeline, Inc. (both FERC-regulated). Provides firm and interruptible transportation, storage services, and hub services to local utilities, pipelines, marketers, and energy generators. Owns and operates nearly 2,800 miles of pipeline facilities in New York and Pennsylvania.
- Integrated Upstream and Gathering Segment: Seneca Resources Company explores for, develops, and produces natural gas in the Appalachian Region (Marcellus and Utica Shales). National Fuel Gas Midstream Company builds, owns, and operates natural gas processing and pipeline gathering facilities. Highland Field Services handles water management. Segment achieved record EBITDA in Q2 FY2026 with 17% increase in natural gas price realizations.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | New York Residential Gas Delivery Rates |
| Subscription | Monthly | Pennsylvania Base Delivery Rate Request |
| Usage-based | Pay-as-you-go | Pipeline Transportation and Storage Services |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels6 records
National Fuel Gas Company product offering
Product offeringCore offering
National Fuel Gas Company is a diversified integrated natural gas company operating across four business segments: (1) regulated gas distribution to approximately 540,000 residential, commercial, and industrial customers in Western New York and Northwestern Pennsylvania through National Fuel Gas Distribution Corporation; (2) exploration and production of natural gas in the Marcellus and Utica Shale plays through Seneca Resources; (3) gathering, processing, and water management services through the Midstream Company and Highland Field Services; and (4) interstate pipeline transportation and storage services through approximately 2,800 miles of FERC-regulated pipelines operated by NFG Supply Corp and Empire Pipeline.
Product overview
National Fuel Gas Company is a diversified integrated energy organization headquartered in Western New York that operates natural gas assets across four business segments: Integrated Upstream and Gathering, Pipeline and Storage, Utility, and Energy Marketing. The company operates a platform-plus-modules architecture consisting of: (1) Seneca Resources Company for exploration and production of natural gas in the Appalachian Region (Marcellus and Utica Shales); (2) National Fuel Gas Midstream Company for gathering and processing; (3) National Fuel Gas Supply Corporation and Empire Pipeline, Inc. for interstate pipeline transportation and storage; (4) National Fuel Gas Distribution Corporation for regulated utility distribution serving 2.2 million people; and (5) Highland Field Services for water management. Supporting infrastructure projects include the Tioga Pathway Project and Shippingport Lateral Project.
Differentiator
Problem solved
Functional benefit
Brands
- Seneca Resources: Exploration and production segment of National Fuel Gas Company that explores for, develops, and produces natural gas in the Appalachian Region, including the Marcellus and Utica Shales
- National Fuel Gas Supply Corporation
- Empire Pipeline
- National Fuel Gas Distribution Corporation
Quantifiable outcome
- Q2 FY2026 adjusted EPS of $2.71, a 13% year-over-year increase
- +4 more outcomes
Companies that use National Fuel Gas Company
Customer profileNamed customers5 records
Segments6 records
Ideal customer profiles5 records
National Fuel Gas Company technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
National Fuel Gas Company partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered strategic, flagship and core.
- Evolution Well ServicesstrategicSeneca Resources partnered with Evolution Well Services for a 3-year strategic agreement to deploy advanced electric fracturing technology across Seneca's Appalachian basin footprint. The partnership combines Evolution's patent-protected electric fracturing technology, in-house power generation, and advanced field gas conditioning services with Seneca's responsibly sourced natural gas production to improve operational efficiency while reducing the environmental footprint of completions.
- Centrica EnergyflagshipSeneca Resources and Centrica Energy signed a groundbreaking 10-year agreement for Centrica to procure 250,000 MMBtu per day of MiQ-certified gas certificates. This first-of-its-kind long-term deal supports independently verified methane emissions and positions both companies ahead of emerging regulatory requirements for methane reduction in the energy supply chain.
- MiQcoreMiQ provides methane emissions certification for Seneca Resources production, having certified 100% of Seneca's production at the highest 'A' grade since 2022. MiQ's certification system drives regulatory compliance, incentivizes continuous improvement, and ensures methane accountability throughout the oil and gas supply chain.
Scale indicators15 records
Recent moves10 records
Expansion highlights6 records
National Fuel Gas Company competitors and assessment
Company assessmentDirect peers
- Spire Inc. Natural gas utility and midstream operator serving Missouri, Alabama and Mississippi; comparable as an integrated gas utility + pipeline/storage business with FERC-regulated assets and a strong focus on rate-base growth.
- Range Resources Corporation: Pure-play Appalachian natural gas and NGL producer with concentrated acreage in the Marcellus and Utica shales; comparable upstream peer with similar low-cost basin production economics.
- EQT Corporation: Largest U.S. natural gas producer and the dominant Appalachian basin operator; a directly comparable upstream peer to NFG's Seneca Resources with overlapping Marcellus/Utica acreage and a strong focus on production-scale and takeaway.
- Antero Resources: Independent exploration and production company focused on natural gas and NGLs in the Appalachian basin; directly comparable to Seneca Resources in terms of Marcellus/Utica operations, gas price sensitivity and basin logistics.
- Southwest Gas Holdings: Natural gas distribution utility serving Arizona, Nevada and California, plus pipeline services; a directly analogous state-regulated gas LDC peer with comparable customer bases and infrastructure-driven earnings model.
- ONE Gas, Inc. Pure-play regulated natural gas utility serving Oklahoma, Kansas and Texas with a similar LDC business model, rate-base growth orientation and customer-count scale to NFG's existing NY/PA distribution footprint.
- Northwest Natural Gas Company: Oregon-based natural gas utility serving residential, commercial and industrial customers in the Pacific Northwest; comparable as a regional gas distribution utility with a long dividend payment history and similar regulatory exposure.
- Atmos Energy Corporation: Largest pure-play regulated natural gas distributor in the U.S., serving customers across the South and Midwest; a comparable scale LDC peer with similar rate-base, capex and dividend-growth characteristics.
- CenterPoint Energy: Houston-based utility holding company engaged in natural gas distribution and electric transmission/distribution; NFG's contractual counterparty for the $2.62B Ohio utility divestiture and a direct comparator on multi-state regulated gas utility strategy.
Broad incumbents
- The Williams Companies, Inc. Large-scale U.S. midstream and pipeline operator with extensive natural gas gathering, processing and transportation assets nationwide; comparable to NFG's Pipeline & Storage segment at greater scale and breadth.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
National Fuel Gas Company social profiles
Digital presenceNational Fuel Gas Company financial estimates
Financial estimateRevenue estimate
Valuation estimate
National Fuel Gas Company leadership team
Management profileNumber of profiles
Profiles7 records
National Fuel Gas Company subsidiaries and ownership
Company hierarchySubsidiaries6 records
National Fuel Gas Company funding detail
Funding detailFunding overview
Funding rounds3 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
National Fuel Gas Company M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about National Fuel Gas Company
What does National Fuel Gas Company do?
National Fuel Gas Company is a diversified integrated natural gas company operating across four business segments: (1) regulated gas distribution to approximately 540,000 residential, commercial, and industrial customers in Western New York and Northwestern Pennsylvania through National Fuel Gas Distribution Corporation; (2) exploration and production of natural gas in the Marcellus and Utica Shale plays through Seneca Resources; (3) gathering, processing, and water management services through the Midstream Company and Highland Field Services; and (4) interstate pipeline transportation and storage services through approximately 2,800 miles of FERC-regulated pipelines operated by NFG Supply Corp and Empire Pipeline.
Is National Fuel Gas Company a public or private company?
National Fuel Gas Company is a public company. It is classified as public and is currently operating.
When was National Fuel Gas Company founded?
National Fuel Gas Company was founded in 1902. It employs 1,001 to 5,000 people.
Where is National Fuel Gas Company based?
National Fuel Gas Company is headquartered in New York, United States, in the North America region.
How does National Fuel Gas Company make money?
Three revenue lines are on record. Utility Segment is the primary driver. The others are pipeline & Storage Segment and integrated Upstream and Gathering Segment.
Who are National Fuel Gas Company's main competitors?
Direct peers on record are Spire Inc., Range Resources Corporation, EQT Corporation, Antero Resources, Southwest Gas Holdings, ONE Gas, Inc., Northwest Natural Gas Company, Atmos Energy Corporation and CenterPoint Energy. The Williams Companies, Inc. is listed as a broad incumbent.
Does National Fuel Gas Company have an API?
No public API is recorded for National Fuel Gas Company.
What industry is National Fuel Gas Company in?
National Fuel Gas Company's product category is Natural Gas Distribution and Pipeline Transportation. Its primary akta.pro industry code is EUAAACAB, Interstate & Intrastate Natural Gas Transmission Pipelines, with a secondary code of EUAJABAA, Gas Mains (Distribution Pipelines). Its NAICS code is 2212 and its SIC code is 4923.