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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What are mineral rights?
Mineral rights are the rights of the owner of the property to mine or produce any resources below the surface of the property. Mineral rights are different from surface rights.
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Maybe. It depends on your particular lease agreement. Some companies allow property owners a yearly free gas allowance. But, the process of connecting your property to the gas source may be more complicated. Some companies will provide a hookup, others require the landowner to provide one.