Kinder Morgan Sells Stake in Elba Island LNG Facility, Looks to Trans Mountain Joint Venture
SUGAR LAND--March 2, 2017--Researched by Industrial Info Resources (Sugar Land, Texas)--On Wednesday, Kinder Morgan Incorporated (NYSE:KMI) announced that it had sold a 49% stake in its Elba Liquefaction Company LLC, which is responsible for the construction of the Elba Island liquefied natural gas (LNG) facility near Savannah, Georgia, to investment funds managed by EIG Global Energy Partners (Washington, D.C.). EIG agreed to make an upfront cash payment of approximately $385 million, as well as reimbursement to Kinder Morgan for prior capital expenditures at the facility.
