Inergy Midstream acquires U.S. Salt from Inergy

May 15, 2012 By    

Inergy Midstream L.P. acquired U.S. Salt LLC from Inergy L.P. for $192.5 million, the companies announced. The transaction complements Inergy Midstream’s existing natural gas and natural gas liquids storage and transportation platform, President and CEO John Sherman said in a company press release. U.S. Salt, located on the shores of Seneca Lake outside Watkins Glen, N.Y., is one of five major solution mined salt manufacturers in the United States, producing evaporated salt products for food, industrial, pharmaceutical and water conditioning uses. The solution mining process used by U.S. Salt creates salt caverns that can be developed into usable natural gas and natural gas liquids storage capacity. U.S. Salt has about 10 billion cubic feet of available cavern space that can potentially be developed into additional natural gas storage capacity.

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About the Author:

Kevin Yanik was a senior editor at LP Gas Magazine.

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