Kinder Morgan and Brookfield to Sell 25% Stake in NGPL
02.26.2021 By Ricardo Perez - NEWS

February 26, 2021 [Reuters] -Pipeline operator Kinder Morgan Inc and Brookfield Infrastructure Partners said on Monday they would sell a 25% stake in Natural Gas Pipeline Co (NGPL) to a fund controlled by ArcLight Capital Partners for $830 million.

 
The value of the minority interest implies an enterprise value of about $5.2 billion for NGPL, representing 11.2 times its 2020 earnings before interest, taxes, depreciation, and amortization, the companies said.

Kinder Morgan and Brookfield Infrastructure said they will each hold a 37.5% interest in NGPL following the close of the deal in the first quarter of 2021, and Kinder Morgan will continue to operate the pipeline.

The proceeds from the deal will be shared equally between the two companies.

With about 9,100 miles of pipeline, NGPL is the largest transporter of natural gas into the high-demand Chicago-area market as well as one of the largest interstate pipeline systems in the country.

Click Here to Access Today a 6,000 Tank Terminal Database With a Pro Trial
6,350 terminals as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

Tangier Island Awarded $2.3 Million Grant for Fuel Storage
06.20.2024 - NEWS
June 20, 2024 [National Fisherman]- Tangier Island, Va., sits in the middle of Chesapeake Bay wit... Read More
Sweco Supports VoltH2 in Design and Development of New Green Hydrogen Plant in The Netherlands
06.20.2024 - NEWS
June 20, 2024 [Public Now]- The European energy company VoltH2 has selected Sweco as its partner ... Read More
ONEOK Completes Acquisition of Gulf Coast NGL System
06.20.2024 - NEWS
June 20, 2024 [ONEOK]- ONEOK, Inc. announced that it has completed its acquisition of a system of... Read More
Phillips 66 Refining Margins Tighten on TMX Expansion Start-Up
06.20.2024 - NEWS
June 20, 2024 [Market Screener]- U.S. refiner Phillips 66 said on Tuesday its margins have tighte... Read More