Kinder Morgan picks up partner for Utopia pipeline
Wednesday, July 13, 2016
Riverstone Investment Group will take on a 50 percent stake in Kinder Morgan’s Utopia Pipeline, according to The Intelligencer / Wheeling News-Register.
The $500 million pipeline will carry Marcellus and Utica shale gas to the expanding petrochemical market in Canada. The partnership between Riverstone and Kinder Morgan will help Kinder Morgan create long-term value and will also strengthen the company’s balance sheet.
The Utopia Pipeline will transport 75,000 barrels of natural gas liquids across Ohio, into Michigan and onto Ontario, Canada, where it will be cracked by Nova Chemical Corps. The product will be used to make plastics. The pipeline is expected to be in use by early 2018.
Read more: The Intelligencer / Wheeling News-Register > Kinder Morgan Sells Half of Ethane Pipeline
More about the Utopia Pipeline:
- Investment group to join Kinder Morgan on Utopia pipeline – July 2, 2016
- Kinder Morgan moving forward with land acquisition for Utopia East Pipeline – Feb. 17, 2016
- Kinder Morgan VP gives update on Utopia East pipeline – Jan. 12, 2016
- Wayne County landowners concerned about new pipelines – Oct. 1, 2015
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.