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Article: El Paso Energy Corporation and Sonat Inc. Complete Merger, Create the Largest Natural Gas Pipeline System in North America.
- Article from:
- PR Newswire
- Article date:
- October 25, 1999
CopyrightCOPYRIGHT 1999 PR Newswire Association, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON, Oct. 25 /PRNewswire/ -- El Paso Energy Corporation (NYSE: EPG) and Sonat Inc. (NYSE: SNT) completed their $6 billion merger today. As previously announced, El Paso Energy has agreed to divest its 100-percent ownership in East Tennessee Natural Gas Company, Sonat's 100-percent ownership of Sea Robin Pipeline Company, and Sonat's one-third interest in Destin Pipeline Company, L.L.C. following the merger.
Today's transaction creates a natural gas transmission system comprising over 40,000 miles, the largest natural gas transmission system in North America, both in terms of throughput and miles of pipeline. El Paso Energy's pipeline systems will transport ...