Acquired facilities enhance connectivity on the company’s Texas intrastate network
Image: Kinder Morgan Tejas Pipeline (Tejas) has acquired certain natural gas pipeline assets Southcross Energy for around $76m. Photo: courtesy of rawpixel/Pixabay.
Kinder Morgan Tejas Pipeline, LLC (Tejas), a subsidiary of Kinder Morgan, Inc. (NYSE: KMI) today closed on its acquisition of certain natural gas pipeline assets owned by Southcross Energy. The total purchase price was approximately $76 million and includes the Corpus Christi Pipeline Network and Bay City Lateral.
“We continue to focus on opportunities to increase our natural gas connectivity to meet LNG facilities, Gulf Coast power, industrial and petrochemical demand,” said Kinder Morgan Natural Gas Midstream President Sital Mody. “These assets are a nice complement to our existing Texas portfolio of assets and allow for further connectivity on our Texas Intrastate system.”
Source: Company Press Release