Deals
Southern Expands Gas Footprint With $1.5 Billion Kinder Deal
- Kinder selling stake in 7,600-mile network to tackle debt
- Southern, Duke Energy among utilities investing in natural gas
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Southern Company bought a 50 percent stake in Kinder Morgan Inc.’s Southern Natural Gas pipeline system in the latest expansion into gas shipping by a power generator amid slipping electricity demand.
Kinder Morgan will continue to operate the 7,600-mile (12,000 kilometer) system that connects gas fields across the U.S. Gulf Coast and Gulf of Mexico to markets in the Deep South including some where Southern operates, the companies said in a joint statement Sunday.