Kinder Morgan Sells 50% Equity Interest In Utopia Pipeline Project - Quick Facts

(RTTNews) - Kinder Morgan, Inc. (KMI) announced that Riverstone Investment Group LLC will become a 50 percent partner in the Utopia Pipeline Project. Riverstone agreed to an upfront cash payment, consisting of reimbursement to KMI for its 50 percent share of prior capital expenditures and a payment in excess of capital expenditures to recognize the value created by KMI in developing the project. The total project cost is estimated to be approximately $500 million.

The Utopia Pipeline is a common carrier project that will include approximately 215 miles of new, 12-inch diameter pipeline constructed entirely within the state of Ohio from Harrison County to Fulton County.