24 October 2011 18:23 [Source: ICIS news]
HOUSTON (ICIS)--Kinder Morgan Energy Partners has agreed to buy SouthTex Treaters, which builds natural gas treatment plants, the US-based pipeline and energy storage company announced on Monday.
The deal isworth about $155m (€112m), and should close this quarter, Kinder Morgan said.
SouthTex’s plants range in size from five to 1,200 gallons/minute of treating capacity.
“This acquisition will enable us to provide large amine plants for centralized treating facilities, which are often needed in the rapidly developing shale plays,” said Bill Stokes, vice president of Kinder Morgan Treating.
“We will also be able to replenish our already large inventory of amine plants and offer our customers even more flexibility for their treating needs,” he added.
($1 = €0.72)
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