Businesses join Spire's existing midstream
infrastructure.
ST.
LOUIS, Jan. 19, 2024 /PRNewswire/ -- Spire Inc.
(NYSE: SR) today announced it has completed its acquisition
of MoGas Pipeline (MoGas), an interstate natural gas pipeline,
and Omega Pipeline (Omega), a connected gas distribution system,
from CorEnergy Infrastructure Trust, Inc. (OTC: CORR,
CORRL).
The acquisition was completed for $175
million, subject to customary closing adjustments. The
businesses will join Spire’s existing midstream infrastructure,
including Spire Storage and Spire STL Pipeline. As a result of
the acquisition, MoGas will operate under the new legal name Spire
MoGas Pipeline LLC.
"Spire MoGas and Omega are ideal fits with our existing
businesses and will further enhance our ability to serve customers
in Missouri," said Steve Lindsey, Spire president and chief
executive officer.
Spire MoGas Pipeline consists of approximately 263 miles of
interstate natural gas pipelines, primarily in Missouri, and interconnects with Spire STL
Pipeline to deliver gas to Spire Missouri's growing customer base
in St. Charles, Franklin and western St. Louis counties, among other utility,
municipal, industrial and commercial customers. Spire MoGas
Pipeline also interconnects with three other interstate pipelines
and is regulated by the Federal Energy Regulatory Commission.
Omega Pipeline is an approximately 75-mile natural gas
distribution system primarily serving Fort Leonard Wood Army Base in south-central
Missouri and is interconnected
with the Spire MoGas Pipeline system.
For more about Spire's midstream business, visit
spireenergy.com/midstream.
About Spire
At Spire Inc. (NYSE: SR) we believe energy exists to help make
people's lives better. It's a simple idea, but one that's at the
heart of our company. Every day we serve 1.7 million homes and
businesses making us one of the largest publicly traded natural gas
companies in the country. We help families and business owners fuel
their daily lives through our gas utilities serving Alabama, Mississippi and Missouri. Our natural gas-related businesses
include Spire Marketing and Spire Midstream. We are committed to
transforming our business through growing organically, investing in
infrastructure, and advancing through innovation. Learn more at
SpireEnergy.com.
Investor Contact:
Megan McPhail
314-309-6563
Megan.McPhail@SpireEnergy.com
Media Contact:
Jason Merrill
314-342-3300
Jason.Merrill@SpireEnergy.com
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SOURCE Spire Inc.
