Kinder Morgan, Southern to create pipeline JV, furthering merger trend

摘要

In a deal that marks the further consolidation of the natural gas and power industries in the US Southeast, Southern Company and Kinder Morgan announced a gas pipeline joint venture, in which the former company will buy a 50% interest in Kinder Morgan’s Southern Natural Gas pipeline system for $1.47 billion in cash. Houston-based Kinder Morgan will continue to operate the 7,600- mile system, which connects gas supply basins in Texas, Louisiana, Mississippi, Alabama and the Gulf of Mexico with markets in Louisiana, Mississippi, Alabama, Florida, Georgia, South Carolina and Tennessee, the companies said in a July 10 joint statement.