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KMP nabs Dayton facility
Kinder Morgan Energy Partners (KMP) has bought a natural gas storage plant from Texas Genco in a $100 million cash and debt deal.
The Dayton plant, in Liberty County, Texas, has a total capacity of about 6.3 billion cubic feet.
Dayton ties into KMP's Texas Intrastate Pipeline system, which covers more than 5800 miles of pipelines with a peak transport capacity of about 5 Bcf per day and about 120 Bcf of natural gas storage capacity.
The deal should close in the third quarter.