El Paso sells pipelines to seal merger deal

El Paso Energy Corp., Houston, has completed the divestiture of three US pipeline systems. The transactions were needed to satisfy the US Federal Trade Commission's conditions for approval of El Paso's $6.2 billion merger with Sonat Inc., Birmingham, Ala. (OGJ, Nov. 1, 1999, p. 46; Mar. 22, 1999, p. 37).The three sales agreements total roughly $620 million. Sold were: El Paso's East Tennessee Natural Gas Co. pipeline system; its one-third interest in Destin Pipeline Co. LLC's system; and the Sea Robin Pipeline gas and condensate system, which is owned by Sonat units Southern Deepwater Pipe- line Co. LLC and Southern Offshore Pipeline Co. LLC.The three divestmentsDuke Energ...

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