Gateway Energy has closed on its acquisition to acquire a
natural gas pipeline in New York from American Midstream for an
undisclosed price. The deal concluded on September 23.
The pipeline delivers natural
gas into a plant owned by Owens Corning in Delmar, New
In connection with the acquisition, Gateway entered into a
new long-term contract with Owens Corning to transport natural
gas at a fixed monthly rate, it said.
"We are excited about expanding our relationship with Owens
Corning at a new location, said Gateway CEO Frederick
The acquisition is consistent with our strategy to
increase our ownership of pipelines which serve end users of
natural gas pursuant to long-term, fixed price contracts,
Gateway Energy owns and operates natural
gas distribution, transportation, and gathering systems
onshore in the continental US and in federal and state waters
of the Gulf of Mexico.