Kinder Morgan has closed its acquisition of US LNG supplier Kinetrex Energy for US$310 million (€265 million), which was announced in July 2020.
Kinetrex, previously owned by an affiliate of Parallel49 Equity, has two small-scale, domestic LNG production and fuelling facilities, and a 50% interest in a landfill-based renewable natural gas (RNG) facility in Indiana, US. It has also signed commercial agreements to build three further landfill-based RNG facilities, with construction expected to begin soon. As well as being a leading LND supplier in the US Midwest, Kinetrex is also a growing player in RNG supply. The company will trade as Kinetrex Energy, a Kinder Morgan company.
‘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,’ says Kinder Morgan’s energy transition ventures president Jesse Arenivas. ‘We’re confident that additional RNG opportunities will continue to emerge in the near term and deliver attractive returns to our shareholders.’