Kinder Morgan Energy to acquire Tejas Gas

abarrelfullabarrelfull wrote on 30 May 2015 11:41

On December 17, 2001, Kinder Morgan Energy Partners, L.P. announced that it had entered into a definitive agreement to purchase Tejas Gas, LLC, a wholly owned subsidiary of InterGen (North America), Inc., for approximately $750,000,000 in cash. Tejas Gas is an approximately 3,400-mile natural gas intrastate pipeline system that extends from South Texas along the Mexico border and the Texas Gulf Coast to near the Louisiana border, and north from near Houston to East Texas.

It is reported to have a transportation capacity of approximately 3.5 billion cubic feet per day. Among other assets, it owns two natural gas storage facilities with approximately 100 Bcf of working gas capacity and 3 fee-based gas processing/treating facilities. InterGen is a joint venture owned by affiliates of the Royal Dutch/Shell Group of Companies and Bechtel Enterprises Holding, Inc. The transaction is expected to close in the first quarter of 2002.

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