Kinder Morgan Purchases 100% of Elba LNG, Raises Distribution 14%
July 16, 2015
KMI buys remaining 49% of joint venture with Shell Kinder Morgan (ticker: KMI) announced today that it has reached an agreement with Royal Dutch Shell (ticker: RDSA) to purchase the remaining equity interest in Elba Liquefaction Company (ELC), a liquefied natural gas (LNG) joint venture between the two companies, for $630 million. Previously, KMI held 51% interest in the project.
