Kinder Morgan to sell $3B in project stakes to private equity groups

Kinder Morgan plans to sell partial stakes in two projects to private equity groups, representing $3 billion in investment, according to Fuel Fix, citing statements from Kinder Morgan executives.

The transactions would involve partial stakes of Kinder Morgan’s $2 billion Elba Island liquefied natural gas (LNG) facility, which is expected to be completed by 2018, and its $1.1 billion Palmetto refined products pipeline, for which construction is expected to begin this spring.

The sales are part of Kinder Morgan’s initiative to curb capital spending in the current low-oil-price environment.

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