Kinder Morgan to acquire Stagecoach Gas Services

June 1, 2021
Kinder Morgan has agreed to acquire Stagecoach Gas Services LLC for $1.225 billion to help connect natural gas supply sources and Northeast demand areas.

Kinder Morgan Inc. has agreed to acquire Stagecoach Gas Services LLC, a natural gas pipeline and storage joint venture of Consolidated Edison Inc. and Crestwood Equity Partners LP, for $1.225 billion to help connect natural gas supply sources and Northeast demand areas.

In New York and Pennsylvania, Stagecoach consists of four natural gas storage facilities (Stagecoach, Thomas Corners, Steuben and Seneca Lake) with a total FERC-certificated working gas capacity of 41 bcf and three natural gas pipelines (MARC I, North/South, and Twin Tier) with a combined throughput capacity of about 3 bcfd with multiple interconnects to major interstate natural gas pipelines, including Tennessee Gas Pipeline (TGP), a KMI subsidiary.

The deal is expected to close in this year’s third quarter subject to regulatory approval.