Houston-based Kinder Morgan Inc. (KMI) is expanding its footprint in the Northeast with the $1.225 billion purchase of the Stagecoach natural gas pipeline and storage system from a joint venture between Crestwood Equity Partners LP and Consolidated Edison Inc. (ConEd).

The Stagecoach system consists of 185 miles of pipeline with multiple interconnects to major interstate natural gas pipelines, including Tennessee Gas Pipeline, a KMI subsidiary. It also includes four natural gas storage facilities with a total working gas capacity of 41 Bcf.

“These natural gas pipeline and storage facilities help connect natural gas supply sources and Northeast demand areas,” said KMI’s Kimberly Watson, president of Interstate Natural Gas Pipelines.

The Stagecoach purchase would deepen...