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 York.
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