Costar Midstream LLC has acquired more than 80 miles of natural gas gathering pipelines, associated compression and treating assets in Gregg County in northeast TX. Costar operates 75,000 Mcf/d of gas processing capacity, 8,000 b/d of natural gas liquids (NGL) fractionation capacity, 20,000 hp of compression, and 30,000 Mcf/d of gas treating capacity in the area. As a result of the acquisition, Costar will construct 10 miles of 12-inch diameter pipeline to connect the NGL-rich gas supply to Costar’s existing processing plant and 600 miles of gathering pipelines. Costar is a portfolio company of Energy Spectrum Capital and was formed in April 2011 to acquire and develop midstream infrastructure.
Princeton, NJ-based NRG Energy Inc. and Houston-based GenOn Energy Inc. completed their $1.7 billion merger, creating what the two independent power companies said is the largest competitive electricity generator in the United States. Final approvals came from the Federal Energy Regulatory Commission and the New York state Public Service Commission. Natural gas-fired plants will make up a majority of the nearly 100 plants in the fleet, spread across 18 states, mostly in the Northeast, Gulf of Mexico and Southwest. The new company, under the NRG Energy name, will have financial and commercial headquarters in Princeton and operational headquarters in Houston. The company has capacity to generate 47,000 MW. GenOn, originally the independent power unit known as Mirant Corp., made an unsolicited $8 billion play for NRG six years ago, but the offer was spurned (see Power Market Today, June 2006).
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