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Southern to buy 50% stake in Kinder Morgan natural-gas pipeline

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Written By: Alison Sider

Click HERE to Read the Article by the Publisher.


Kinder Morgan Inc. on Sunday said it is selling a stake in a 7,600-mile natural-gas pipeline system to utility Southern Co. for $1.47 billion.

The Southern Natural Gas pipeline system connects natural-gas fields in Texas, Louisiana, Mississippi, Alabama, and the Gulf of Mexico to markets in the Southeast. Southern is one of the pipeline system’s customers.

The deal comes as Kinder Morgan seeks to reduce its debt load. The sale of the 50% stake will help bring the company’s ratio of debt to earnings before interest, taxes, depreciation and amortization below the level it has targeted for the year.

The two companies will also try to work together on additional projects expanding the pipeline system.


Tags: natural gas, pipeline


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Written By: Alison Sider

Click HERE to Read the Article by the Publisher.

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