2023-06-15 12:17:46 ET
ArcLight Capital said Thursday it agreed to acquire an additional 12.5% stake in Natural Gas Pipeline Company of America from Brookfield Infrastructure Partners ( NYSE: BIP ) for an undisclosed sum.
Following the deal, ArcLight's ownership in NGPL will increase to 37.5% while Brookfield Infrastructure ( BIP ) retains a 25% stake; Kinder Morgan ( KMI ) continues to operate the pipeline and holds a 37.5% interest in NGPL.
NGPL is the largest transporter of natural gas into the Chicago-area market and one of the largest interstate pipeline systems in the U.S., as well as a major transporter of natural gas to large liquefied natural gas export facilities located on the Texas and Louisiana Gulf Coast.
NGPL has 9,100 miles of pipeline, more than 1M compression horsepower and 288B cf of working natural gas storage.
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For further details see:
ArcLight increases stake in gas pipeline system in deal with Brookfield