Sale in the pipeline
Energy transportation and storage company Kinder Morgan Energy Partners (KMP) has agreed to sell its gas liquids pipeline, North System, to ONEOK Partners for $300m.
The North System consists of a 2,575km pipeline that delivers natural gas liquids and refined petroleum products from Kansas to the Chicago area.
The sale includes KMP’s 50 per cent ownership interest in the Heartland Pipeline Company, seven propane truck-loading terminals along the North System and one multi-product terminal complex in Morris, Illinois.
ONEOK Partners has agreed to make offers of employment to all 90 of North System’s employees.
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