Kinder Morgan Inc.(KMI) said it intends to contribute about $300 million of assets to Kinder Morgan Energy Partners LP, including Kinder Morgan Texas Pipeline Inc., a 2,600-mile natural gas pipeline system that extends from south Texas to Houston along the Texas Gulf Coast. Other assets include the Casper and Douglas natural gas gathering and processing systems, KMI’s 50% interest in Coyote Gas Treating LLC, and KMI’s 25 percent interest in Thunder Creek Gas Services LLC. KMI will receive approximately $300 million, 50% in cash and 50% in KMP partnership units. The transaction will permit KMI to cut its debt by about $150 million, KMI Chairman Rich Kinder said.
GREENSBURG and NORRISTOWN, Pa., Oct. 5, 2000–Allegheny Power, the energy delivery business of Allegheny Energy, Inc., and PJM Interconnection LLC, announced recently the execution of an agreement in principle to develop a new electric transmission system affiliation which will expand the Mid-Atlantic energy market.
