Kinder Morgan closes on $310m takeover of Kinetrex Energy
The $310 million (€263 million) deal includes two small-scale, domestic LNG production and fuelling facilities, a 50% interest in a landfill-based RNG facility in Indiana, and signed commercial agreements for three additional RNG facilities, with construction to begin shortly.
Kinetrex is a major supplier of LNG in the Midwest and is a rapidly growing player in producing and supplying RNG under long-term contracts to transport service providers. The firm will continue operations as Kinetrex Energy, a Kinder Morgan company.
Jesse Arenivas, president of energy transition ventures at Kinder Morgan, said: “We are very pleased to be adding Kinetrex Energy’s business to the full suite of energy solutions and services that Kinder Morgan has to offer customers.
“We’re confident that additional RNG opportunities will continue to emerge in the near term and deliver attractive returns to our shareholders.”