Kinder Morgan Inc. has agreed to acquire Stagecoach Gas Services LLC (Stagecoach), a natural gas pipeline and storage joint venture between Consolidated Edison Inc. and Crestwood Equity Partners LP.
Located in the US Northeast Marcellus and Utica Shale plays, Stagecoach consists of four natural gas storage facilities with a total working gas capacity of 41 Bcf (1.1 x 109 m3) and 185 miles (297 km) of natural gas pipelines with multiple interconnects to major interstate natural gas pipelines, including Tennessee Gas Pipeline, a KMI subsidiary.
“Acquiring Stagecoach will enhance our service to customers in this part of the country,” said KMI’s President of Interstate Natural Gas Pipelines Kimberly S. Watson. “These natural gas pipeline and storage facilities help connect natural gas supply sources and Northeast demand areas. Natural gas has long been responsible for providing heat and hot water to homes and businesses in the Northeast, and it now has an increasingly vital role as a reliable, low emissions partner backing up growing renewable power generation. We look forward to integrating these facilities into our suite of existing assets in the region.”
