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Kinder Morgan and Brookfield to acquire third partner stake in Natural Gas Pipeline

Kinder Morgan and Brookfield to acquire third partner stake in Natural Gas Pipeline
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Industry Brief - Natural Gas Intelligence

Natural Gas Pipeline Co. of America (NGPL) may be up for sale by the end of this month, according to published reports. NGPL's owners are interviewing financial advisers for a sale and are preparing to mandate a firm, according to a report in The Deal. The price tag could be as high as $3.6 billion. Kinder Morgan operates NGPL and owns a 20% interest in the pipeline company, which has close to 9,200 miles of pipeline, more than one million compression hp and 280 Bcf of working gas storage. The two-pronged mainline stretches from Chicago to the Midcontinent and from Chicago to the Gulf Coast. Privately-held Myria Holdings Inc. is the main owner with an 80% interest in NGPL. A Kinder Morgan spokesman told NGI the company "does not comment about market rumors or speculation regarding potential mergers, acquisitions or divestitures." NGPL and Myria Holdings did not respond to inquiries about a possible sale.

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