By OGJ editors
HOUSTON, July 2 -- Oneok Partners LP has agreed to pay $300 million to buy Kinder Morgan Energy Partners LP's North system, which comprises a 1,600-mile interstate pipeline that delivers natural gas liquids and products from Kansas to Chicago.
Also included in the sale are Kinder Morgan's 50% ownership interest in the Heartland Pipeline Co., seven propane truck-loading terminals along the North system, and one multiproduct terminal complex in Morris, Ill.
The transaction, which is to close in the third quarter, is expected to be accretive to distributable cash flow to Kinder Morgan unitholders.
