New Inergy MLP to own, operate northeast midstream business

September 8, 2011 By    

Inergy L.P. announced plans to restructure its business units and form a new master limited partnership called Inergy Midstream L.P., which will initially own and operate Inergy’s northeast U.S. midstream storage and transportation business. Inergy’s initial public offering of the midstream business will become final no earlier than the fourth quarter of 2011, the company said. Inergy said its objectives from the planned restructuring are to lower its cost of future capital, enhance its ability to execute its growth strategy and strengthen its balance sheet. The MLP is expected to have about 41 billion cubic feet of natural gas storage capacity and about 825 million cubic feet per day of natural gas transportation capacity upon the completion of the proposed Marc I pipeline and the North-South expansion projects.

Kevin Yanik

About the Author:

Kevin Yanik is the senior editor of LP Gas Magazine. Contact him at kyanik@northcoastmedia.net or 216-706-3724.

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