Darth Vader Sells New England Pipe Carrying M-U Gas to Blackstone

Remember when "the evil BlackRock" (MDN's words) bought the Portland Natural Gas Transmission System (PNGTS) back in 2024 (see Darth Vader (BlackRock) Buying New England Pipeline for $1.14B)? Darth Vader is cashing out. On Nov. 10, Blackstone Infrastructure said its funds signed a deal to buy PNGTS from funds run by Global Infrastructure Partners (GIP, now part of BlackRock) and Morgan Stanley Infrastructure Partners. Nobody is saying what Blackstone is paying. Why should Marcellus/Utica folks care about a pipeline in Maine? Because Blackstone's own press release says PNGTS carries gas from "Canadian and Appalachian supply basins." Yes, some of our molecules ride this pipe. They just go the long way around, through Canada.

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