In this issue

 

ConocoPhillips, operator of the small-scale Kenai LNG export plant in Alaska, has filed an application with the US Department of Energy for authority to export cargoes to Free Trade Agreement…
Despite the fall in global oil and gas prices, growth of LNG use in Asia's power sector is limited by coal. "Only very competitively priced LNG has a chance to…
Gas Natural Fenosa has increased its interest in Metrogas of Chile, lifting its shareholding to more than 60% in the utility that also holds 20% of the South American country's…

News Nudges

Kinder Morgan sells 25% stake in Chicago city-gas supplier

US pipeline operator Kinder Morgan said a minority stake of 25 percent had been sold in the 9,000-mile Natural Gas Pipeline Company of America, which supplies city gas to Chicago and feed gas to LNG plants on the Gulf Coast of Texas and Louisiana. Kinder Morgan and the other joint owner of the pipeline, Brookfield Infrastructure Partners of Canada, sold the NGPL stake to a fund controlled by ArcLight Capital Partners, based in Boston, Massachusetts, and specialising in energy sector investment. “The value of the minority interest implies an enterprise value of about $5.2 billion for NGPL, representing 11.2 times its 2020 earnings before interest, taxes, depreciation and amortization,” said a statement from Kinder Morgan and Brookfield. Kinder Morgan and Brookfield said they would each hold a 37.5 percent interest in NGPL following the closing of the ArcLight deal and Kinder would continue to operate the pipeline.