Kinder Morgan’s (KMI) strategic partner ArcLight Capital Partners’ managed fund has acquired a 25% interest in Natural Gas Pipeline Company of America, a natural gas infrastructure system. As a result of the transaction, ArcLight will become the largest owner of NGPL with a 62.5% economic ownership interest, alongside its strategic partner Kinder Morgan. Kinder Morgan continues to own a 37.5% economic interest and operates NGPL. NGPL is one of the largest interstate pipeline systems in the country, spanning nine states, supplying critical power and heating markets across its footprint and liquefied natural gas facilities in Texas and Louisiana, with ~9,100 miles of pipeline, compressor stations totaling ~1 million horsepower, and 288 billion cubic feet of storage. Since 2001, ArcLight has owned, controlled, or operated over ~65 GW of assets and 47,000 miles of electric and gas transmission infrastructure with $80B of enterprise value. Terms of the transaction were not disclosed.

Confident Investing Starts Here:

Quickly and easily unpack a company's performance  with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox  with TipRanks' Smart Value Newsletter

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See today’s best-performing stocks on TipRanks >>

Read More on KMI:

Disclaimer & DisclosureReport an Issue

Kinder Morgan’s Strategic Expansion: Copper State Connector and Arizona Energy Storage Projects Drive Buy Rating Wells says Kinder Morgan could be front runner for large Arizona gas pipeline Kinder Morgan price target raised to $28 from $27 at RBC Capital Kinder Morgan share price weakness a buying opportunity, says Argus Kinder Morgan price target raised to $26 from $25 at Scotiabank

View Comments