Kinder Morgan wraps up Kinetrex deal

US energy company Kinder Morgan has finalized the previously announced acquisition of compatriot small-scale LNG player Kinetrex for about $310 million.

Kinder Morgan, the operator of the Elba Island liquefaction facility in Georgia, confirmed in a statement on Friday it had closed the deal. The firm bought Kinetrex from an affiliate of Parallel49 Equity.

The acquisition includes two small-scale, domestic LNG production and fueling facilities, a 50% interest in a landfill renewable natural gas (RNG) facility, and three additional RNG facilities with signed commercial arrangements, according to Kinder Morgan.

Kinetrex supplies LNG in the Midwest but it also produces and supplies RNG under long-term contracts to transportation service providers.

The firm has a 50% interest in the largest RNG facility in Indiana as well as signed commercial agreements to begin construction on three additional landfill-based RNG facilities.

Once operational next year, total annual RNG production from the four sites would reach over four billion cubic feet.

Kinetrex produces RNG from renewable sources, including organic waste in landfills, wastewater treatment plants and agricultural operations.

The company will continue operations as Kinetrex, a Kinder Morgan company.

Most Popular

LNG carrier arrives to load first LNG Canada cargo

The 174,000-cbm GasLog Glasgow has arrived at the LNG Canada jetty in Kitimat to load the first LNG cargo produced at the Shell-led terminal, an LNG Canada spokesperson told LNG Prime on Saturday.

HD Hyundai Samho scores contract to build LNG carrier quartet

South Korea’s HD Hyundai Samho has secured an order to build four liquefied natural gas (LNG) carriers for about $1.03 billion.

BP seals LNG SPA with Italy’s A2A

UK-based energy giant BP has signed a long-term liquefied natural gas (LNG) supply deal with Italian electricity and gas distributor A2A.

More News Like This

Kinder Morgan to build $1.7 billion Texas LNG pipeline

Kinder Morgan CEO Kim Dang announced this in the company's fourth-quarter results report on Wednesday. Dang said the project is...

Kinder Morgan gets OK to boost Elba Island LNG capacity

The US FERC said on November 21 it found that the Elba Liquefaction optimization project is not inconsistent with...

Kinder Morgan secures more time for Gulf LNG export project

US energy company Kinder Morgan and its partners have secured more time from the US FERC to add liquefaction...

Kinder Morgan to boost Elba Island LNG capacity as part of optimization project

US energy company Kinder Morgan is working to add about 0.4 mtpa of capacity at the Elba Island LNG...