NextEra Sells Meade Pipeline, Including Marcellus Central Penn Line

It took over two years, but NextEra Energy finally sold its ownership interest in Meade Pipeline Co LLC to investment company Ares Management Corporation for $1.1 billion. You may recall that NextEra acquired Meade Pipeline for $1.37 billion in 2019 (see NextEra Energy Buys 39% Stake in Atlantic Sunrise Pipeline for $1.37B). You don't often see the sale of such an asset for less than the original purchase price. Meade originally was a small consortium that invested in the Atlantic Sunrise pipeline project, which is majority-owned and operated by Williams, as well as a feeder pipeline for Marcellus molecules to the massive Transco Pipeline system.

---

To view this content, log into your member account. (Not a member? Join Today!)