Lone Star West Texas Gateway NGL Pipeline, Kinder Morgan Wins DE Settlement: Energy Biz Recap
Energy Transfer Partners (NYSE:ETP) and Regency Energy Partners (RGP) announced in a Tuesday release that the 570-mile, 16-inch Lone Star West Texas Gateway NGL Pipeline is now online ahead of schedule. The pipeline is owned by Lone Star NGL, which is a joint venture between the two partnerships, and carries natural gas liquids produced in the Permian and Delaware Basins in West Texas to Mont Belvieu, Texas. The West Texas Gateway was originally set for completion in the first quarter of 2013.
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Kinder Morgan (NYSE:KMI) which is now the largest domestic pipeline supplier following its 2011 acquisition of El Paso Corp., won a Delaware court’s approval of a $110 million resolution of lawsuits brought by investors over the purchase. Chancery Court Judge Leo Strine in Wilmington said Monday in court that the settlement gave a “very large monetary settlement” for El Paso shareholders’ claims they were shortchanged in the $21.1 billion purchase by Kinder Morgan.
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