Investment vehicle snaps up largest private US gas storage operator
JP Morgan-backed $24bn investment vehicle Infrastructure Investments Fund (IIF) has acquired Enstor Gas, the largest privately-owned gas storage company in the the US, from ArcLight Capital Partners, Enstor said on May 11.
Terms of the transaction were not disclosed. Enstor has gas storage facilities in Alabama, Mississippi, Texas and New Mexico with a combined capacity of over 110bn ft3, as well as nearly 290 km of transmission pipelines.
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“Today’s transaction is a tribute to the strength of our assets in the US gas storage market, our employees’ strong track record of safe, efficient operations and their dedication to the communities in which we operate,” Enstor CEO Paul Bieniawski said.