The US pipeline operator Kinder Morgan has announced that it would acquire NextEra Energy’s gas pipelines in the US State of Texas for US$1.815bn.
NextEra’s Texas natural gas pipeline portfolio, named STX Midstream, consists of seven pipelines which provide natural gas to Mexico and power producers and municipalities in southern Texas. STX Midstream holds a 90% stake in the NET Mexico pipeline (10% owned by Pemex's subsidiary MGI Enterprises), Eagle Ford Midstream (a residue line connecting the Eagle Ford basin to the Agua Dulce Hub in Nueces County, Texas), along with a 50% interest in Dos Caminos (50% owned by Howard Energy Partners (HEP)) that operates a pipeline connecting HEP’s existing midstream pipeline and facilities in Webb County (Texas) to Kinder Morgan’s new Eagle Ford pipeline).
The pipelines together have a transport capacity of 4.9 bcf/d (about 51 bcm/year) and a length of 744 km. The deal is expected to close in the first quarter of 2024.