Kinder Morgan will pay $1.82 billion for the natural gas pipeline portfolio of NextEra Energy Partners in Texas.
Kinder Morgan will buy the natural gas pipeline portfolio of NextEra Energy Partners in Texas, paying $1.82 billion for the assets. The pipeline network has a throughput capacity of 4.9 billion cu ft daily, Kinder Morgan said in a news release about the deal. The company added that the pipeline assets were “highly contracted”, with the average length of contract at eight years and that 75% of the capacity was subject to take-or-pay contracts.
Earlier this month, the chief executive of the largest gas producer in the country, EQT, said that the Appalachian Basin had reached the limit of what it can produce due to a shortage of offtake pipelines. Commenting on the effects of pipeline opposition to the FT, Toby Rice said “The industrial world that we enjoy now is severely compromised because of the lawsuits, the pushback and the movement to cancel energy infrastructures and modern society. We’ve run out of flexibility.
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