Houston-based Kinder Morgan said this week it is acquiring Monument Pipeline, a natural gas pipeline system serving the Houston metropolitan area, for $505 million. The acquisition is expected to complement the company’s existing Texas intrastate pipeline network and support continued growth in LNG exports and industrial activity on the Gulf Coast.
The transaction includes about 225 miles of pipeline infrastructure providing transportation and storage to local gas utilities, LNG shippers and industrial customers. Closing is expected in second quarter.