popular articles

Kinder Morgan acquires STX Midstream for $1.815 billion

Kinder Morgan has signed an agreement to acquire NextEra Energy Partners' natural gas pipeline subsidiary STX Midstream in South Texas for $1.815 billion.
Kinder Morgan Acquiert STX Midstream

Please share:

Kinder Morgan recently announced its agreement to acquire STX Midstream, a subsidiary of NextEra Energy Partners. This strategic decision marks an important step in the company’s ongoing expansion.

Details of the Acquisition and Assets of STX Midstream

STX Midstream currently owns 462 miles of natural gas pipelines connecting the Eagle Ford Basin to various markets, including Mexico and the Gulf Coast. This acquisition will enable Kinder Morgan to expand its presence and diversify its activities in the region.

Growth prospects for Eagle Ford and exports to Mexico

The transaction is expected to close in the first quarter of 2024, and will be financed by available cash and short-term borrowings. With this acquisition, Kinder Morgan plans to seize new opportunities in LNG, power generation, LDC customers and exports to Mexico.

STX Midstream’s interest in Dos Caminos and Other Assets

STX Midstream also holds a 50% stake in Dos Caminos, in partnership with Howard Energy Partners. Dos Caminos recently commissioned a 62-mile line connecting HEP’s Eagle Ford midstream and pipeline facilities to KMI’s new Eagle Ford pipeline line in Freer. This collaboration further strengthens STX Midstream’s position in the region.

The sale of STX Midstream is in line with NextEra’s strategy of focusing exclusively on its renewable energies portfolio. NextEra will use part of the funds from this sale to finalize the redemption of its convertible equity portfolio financing from its Renewable Energy Fund II by 2025. This decision reflects NextEra’s commitment to clean, sustainable energy.

By acquiring STX Midstream, Kinder Morgan strengthens its position in the South Texas natural gas sector, paving the way for significant growth in production and exports to Mexico. The acquisition comes against the backdrop of growing demand for gas in the United States, and enables NextEra to focus more on its renewable energy portfolio.

Register free of charge for uninterrupted access.

Publicite

Recently published in

A new report by the International Energy Agency identifies significant untapped potential in biogas and biomethane, hindered by regulatory and economic barriers.
RIC Energy and Siemens have signed an agreement to develop industrial projects in Spain focused on renewable hydrogen, green ammonia and e-fuels, including technical solutions and financing mechanisms.
RIC Energy and Siemens have signed an agreement to develop industrial projects in Spain focused on renewable hydrogen, green ammonia and e-fuels, including technical solutions and financing mechanisms.
Verdagy will supply hydrogen to Mainspring Energy to power a linear plant in Moss Landing, with operations expected to begin by summer 2025.
Verdagy will supply hydrogen to Mainspring Energy to power a linear plant in Moss Landing, with operations expected to begin by summer 2025.
Solveo Energies has inaugurated an experimental agrivoltaic system in the Pyrénées-Orientales, combining solar power production and crop protection on a farm facing drought conditions.
Solveo Energies has inaugurated an experimental agrivoltaic system in the Pyrénées-Orientales, combining solar power production and crop protection on a farm facing drought conditions.
European Energy has begun commercial e-methanol production in Denmark and reported an EBITDA of €45.9mn, while accelerating its international expansion, particularly in Australia.
Grenergy plans to invest €3.5bn ($3.79bn) to expand hybrid platforms and standalone batteries in Europe and Chile, targeting 18.8 GWh of storage capacity by the end of 2027.
Grenergy plans to invest €3.5bn ($3.79bn) to expand hybrid platforms and standalone batteries in Europe and Chile, targeting 18.8 GWh of storage capacity by the end of 2027.
Copenhagen Infrastructure Partners sells a minority stake in its 1 GW project to ACEN to accelerate its development ahead of upcoming energy auctions planned by the Philippine government.
Copenhagen Infrastructure Partners sells a minority stake in its 1 GW project to ACEN to accelerate its development ahead of upcoming energy auctions planned by the Philippine government.
Cheniere has signed a long-term gas supply agreement with Canadian Natural Resources to support the planned expansion of its Sabine Pass liquefaction terminal in Louisiana from 2030.
Cheniere has signed a long-term gas supply agreement with Canadian Natural Resources to support the planned expansion of its Sabine Pass liquefaction terminal in Louisiana from 2030.
While corporate demand for sustainable aviation fuel increases, European regulatory rigidity limits short-term investment prospects. SAFc Connect seeks to streamline transactions.
Cnooc will immobilise its Hai Yang Shi You 301 barge in July, temporarily reducing LNG bunkering capacity in China, where only five units handle supply.
Cnooc will immobilise its Hai Yang Shi You 301 barge in July, temporarily reducing LNG bunkering capacity in China, where only five units handle supply.
Brazilian group Petrobras formalises its return to Angola with two memorandums of understanding signed with Sonangol and the national oil regulator, targeting offshore exploration without immediate financial commitment.
Brazilian group Petrobras formalises its return to Angola with two memorandums of understanding signed with Sonangol and the national oil regulator, targeting offshore exploration without immediate financial commitment.
The Abuja Court of Appeal rejected Malabu Oil & Gas’s lawsuit against Agip, Eni’s subsidiary, by upholding the statute of limitations on the OPL 245 oil block case.
The Abuja Court of Appeal rejected Malabu Oil & Gas’s lawsuit against Agip, Eni’s subsidiary, by upholding the statute of limitations on the OPL 245 oil block case.
Advances in enhanced and closed-loop geothermal systems are drawing growing interest from governments and tech giants, despite critical cost reductions still needed for competitiveness.
Saudi-based ACWA Power has signed strategic agreements in Malaysia to develop up to 12.5 GW of energy capacity by 2040, with a potential investment of $10 billion.
Saudi-based ACWA Power has signed strategic agreements in Malaysia to develop up to 12.5 GW of energy capacity by 2040, with a potential investment of $10 billion.
Portugal’s Galp expects a production surge in Brazil driven by the offshore Bacalhau field, in partnership with Sinopec, Equinor and ExxonMobil.
Portugal’s Galp expects a production surge in Brazil driven by the offshore Bacalhau field, in partnership with Sinopec, Equinor and ExxonMobil.
The Trump administration has cancelled a federal guarantee granted to Sunnova Energy, withdrawing its support for a loan programme intended to finance 100,000 residential solar installations.
The Trump administration has cancelled a federal guarantee granted to Sunnova Energy, withdrawing its support for a loan programme intended to finance 100,000 residential solar installations.
North Atlantic has entered exclusive negotiations to acquire the Gravenchon refinery, France’s second-largest, from ExxonMobil in a deal reshaping the industrial landscape of the Seine Valley.
Spanish authorities and grid operator REE denied conducting any experiment on the national electricity network prior to the massive outage on April 28, the cause of which remains unknown.
Spanish authorities and grid operator REE denied conducting any experiment on the national electricity network prior to the massive outage on April 28, the cause of which remains unknown.
Friedrich Merz confirmed that Germany would block any attempt to relaunch the Nord Stream 2 pipeline, despite internal calls suggesting a potential reopening of dialogue with Moscow.
Friedrich Merz confirmed that Germany would block any attempt to relaunch the Nord Stream 2 pipeline, despite internal calls suggesting a potential reopening of dialogue with Moscow.
EDF plans a new nuclear pipework factory at Cordemais by 2028, confirming the end of coal-fired power in France and the site's industrial conversion.
EDF plans a new nuclear pipework factory at Cordemais by 2028, confirming the end of coal-fired power in France and the site's industrial conversion.
Uranium Royalty Corp. invests CAD1mn ($730,000) in a 2% royalty on Forum Energy Metals’ Aberdeen project, located near one of the world’s largest undeveloped uranium deposits.
NexGen Energy unveils exceptional assay results at the Patterson Corridor East site, with uranium intercepts among the highest concentrations globally, highlighting the growing economic relevance of this strategic area for the nuclear industry.
NexGen Energy unveils exceptional assay results at the Patterson Corridor East site, with uranium intercepts among the highest concentrations globally, highlighting the growing economic relevance of this strategic area for the nuclear industry.
OCI Energy, CPS Energy and LG Energy Solution Vertech signed a memorandum of understanding to develop a 480 MWh energy storage facility in San Antonio, aiming to strengthen Texas's ERCOT grid.
OCI Energy, CPS Energy and LG Energy Solution Vertech signed a memorandum of understanding to develop a 480 MWh energy storage facility in San Antonio, aiming to strengthen Texas's ERCOT grid.
Nano Nuclear Energy announced a $105mn fundraising from institutional investors, bringing its total cash position above $200mn to accelerate its small-scale nuclear reactor projects.
Nano Nuclear Energy announced a $105mn fundraising from institutional investors, bringing its total cash position above $200mn to accelerate its small-scale nuclear reactor projects.

Advertising