ArcLight Announces $865 Million Acquisition of Strategic Pipeline Interest
Kinder Morgan(KMI) Prnewswire·2025-02-03 22:00
BOSTON, Feb. 3, 2025 /PRNewswire/ -- ArcLight Capital Partners, LLC and affiliates (collectively, "ArcLight") announced today that it has completed the acquisition of a 25% equity interest in Gulf Coast Express Pipeline LLC ("GCX") for $865 million from an affiliate of Phillips 66 (NYSE: PSX). Going forward, GCX will be jointly owned by subsidiaries of Kinder Morgan, Inc. (NYSE: KMI) and affiliates of ArcLight. GCX will continue to be operated by a subsidiary of KMI.GCX is a premier, 500-mile natural gas p ...