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Kinder Morgan Sells 49% Interest in Elba Liquefaction Company to EIG Global Energy Partners Investment Funds

KINDER MORGAN (KMI)  More Company Research Source: Business Wire
Last kinder morgan earnings: 1/17 04:05 pm Check Earnings Report
PDF LNG Export Project at Elba Island Expected to Begin Initial Operation in Mid-2018 HOUSTON--(BUSINESS WIRE)-- Kinder Morgan, Inc. (NYSE: KMI) announced today that investment funds managed by EIG Global Energy Partners (EIG) have become a 49 percent joint venture participant in Elba Liquefaction Company, L.L.C. (ELC) which will own 10 liquefaction units and other ancillary equipment to be constructed as part of the Elba Liquefaction Project at Kinder Morgan’s existing Southern LNG Company, L.L.C. Elba Island LNG facility near Savannah, Georgia. To acquire its membership interest, EIG has made an upfront cash payment of approximately $385 million, consisting of reimbursement to KMI for EIG’s 49 percent share of prior ELC capital expenditures, excluding capitalized interest, and a payment of approximately $170 million in excess of capital expenditures in consideration of the value created by KMI in developin [Read more]

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