Kinder Morgan Sells 25% Stake in Elba Island LNG for $565 Million
In early 2017, pipeline and midstream giant Kinder Morgan (KM), the builder and operator of the Elba Island, Georgia LNG export facility, sold 49% of the (not then finished) Elba project to investment firm EIG Global Energy Partners for $555 million (see Kinder Morgan Sells 49% Stake in Elba Island LNG to EIG for $555M). In December 2019, Elba Island shipped its first commercial cargo of LNG (see Elba Island Finally Exported First Marcellus LNG Cargo on Friday). Yesterday KM announced it had sold half of its half, or 25.5%, of the Elba project to an undisclosed financial buyer for approximately $565 million.
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