Sempra sells stake in REX natural gas pipeline

Sempra sells stake in REX natural gas pipeline
REX pipeline map (Image courtesy of Tallgrass Energy)

Sempra Energy’s unit, Sempra U.S. Gas & Power on Wednesday agreed to sell its 25 percent interest in the Rockies Express pipeline (REX) for approximately $440 million in cash to Tallgrass Development.

Patti Wagner, president and chief executive officer of Sempra U.S. Gas & Power said in a statement that while REX is an important part of the country’s natural gas pipeline system, given the changing market conditions, Sempra believes it can more productively redeploy the proceeds from the sale into long-term growth opportunities.

The 1,712-mile natural gas pipeline extending from Opal, Wyoming, and Meeker, Colorado, to Clarington, Ohio, is one of the largest natural gas pipelines ever constructed in North America. The pipeline has the capacity to transport 1.8 billion cubic feet per day.

The pipeline is owned and operated by Rockies Express Pipeline a joint venture by units of Tallgrass Development (50 percent share), Sempra (25 percent share), and Phillips 66 (25 percent share).

Share this article

Follow LNG World News


<< Apr 2020 >>
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Flame 2020

Flame is Europe’s largest and most influential meeting place for the global gas industry.

read more >

4th PNG Petroleum & Energy Summit

The CWC Group, in partnership with Kumul Petroleum Holdings Ltd.

read more >

FSRU World Congress 2020

FSRU World Congress 2020 will therefore focus on further Commercialising FSRUs through LNG-to-Power…

read more >

CWC World LNG & Gas Series: 12th Asia Pacific Summit

The 2020 Summit will offer an unrivaled programme covering relevant and significant discussion topics…

read more >