WASHINGTON (dpa-AFX) - ArcLight Capital Partners, LLC announced Tuesday that its managed fund has acquired a 25% interest in Natural Gas Pipeline Company of America or NGPL, a strategic natural gas infrastructure system. Terms of the transaction were not disclosed.
As a result of the transaction, ArcLight will become the largest owner of NGPL with a 62.5% economic ownership interest, alongside its strategic partner Kinder Morgan, Inc. (KMI). Kinder Morgan continues to own a 37.5% economic interest and operates NGPL.
NGPL is one of the largest interstate pipeline systems in the country, spanning nine states, supplying critical power and heating markets across its footprint and liquefied natural gas facilities in Texas and Louisiana.
ArcLight noted that this continued investment in NGPL also reflects its ability to be a value-added partner and expands its strategic partnership with Kinder Morgan.
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