Natural Gas Pipeline Company of America Acquisition & Valuation

Natural Gas Pipeline Company of America was acquired by ArcLight Capital for $3.6B in March 2025.

Natural Gas Pipeline Company of America acquisition price

$3.6B

Acquired by ArcLight Capital · Mar 2025

Key investors in Natural Gas Pipeline Company of America

  • ArcLight Capital

Natural Gas Pipeline Company of America Overview

About Natural Gas Pipeline Company of America

Natural Gas Pipeline Company of America is a Kinder Morgan subsidiary operating 9,100 miles of interstate pipelines transporting natural gas to the Chicago market and Gulf Coast LNG facilities. The system includes 1 million compression horsepower and 288 billion cubic feet of storage capacity. Natural Gas Pipeline Company of America delivers to Texas, Louisiana, and Midwest consumers.


Founded

2000

HQ

United StatesChicago, IL

Status

Acquired

Customer focus

B2B

Revenue model

Usage-based

Valuation

$5.2B (Feb 2021)

Natural Gas Pipeline Company of America Acquisition

Natural Gas Pipeline Company of America was acquired by ArcLight Capital for $3.6B on 21 March 2025.

Natural Gas Pipeline Company of America (NGPL) operates one of the largest interstate natural gas pipeline systems in the U.S., spanning nine states with approximately 9,100 miles of pipeline, compressor stations totaling 1 million horsepower, and 288 billion cubic feet of storage capacity. It supplies critical power and heating markets across its footprint and liquefied natural gas facilities in Texas and Louisiana, providing energy access, reliability, and supply from all major U.S. natural gas basins, including transport to the Chicago market and LNG export facilities. ArcLight Capital Partners, LLC, a Boston-based infrastructure investment firm with a history since 2001 of owning, controlling, or operating over 65 GW of assets and 47,000 miles of electric and gas transmission infrastructure valued at $80 billion, acquired an additional 25% interest in NGPL in May 2025. This transaction increased ArcLight's economic ownership to 62.5%, making it the largest owner, while strategic partner Kinder Morgan, Inc. retains a 37.5% economic interest and continues to operate the system. Terms of the deal were not disclosed. The acquisition responds to historic U.S. power demand growth from electrification and AI data centers, positioning NGPL to support utilities, LNG exporters, data center developers, and hyperscalers with irreplaceable infrastructure. It builds on ArcLight's prior investments in NGPL, including a 12.5% stake from Brookfield Infrastructure that brought its ownership to 37.5%, and deepens its partnership with Kinder Morgan amid rising needs for natural gas reliability and export growth.

Natural Gas Pipeline Company of America acquisition details
AcquirerDateTypePrice
  • ArcLight Capital
21 Mar 2025PE buyout$3.6B

Natural Gas Pipeline Company of America Valuation

Natural Gas Pipeline Company of America is currently valued at $5.2B, based on its secondary sale in February 2021.

The $830M round was led by ArcLight Capital.

Natural Gas Pipeline Company of America valuation by funding round

Natural Gas Pipeline Company of America valuation by funding round
DateStageValuation
Feb 2021Secondary$5.2B

Natural Gas Pipeline Company of America Funding History

Natural Gas Pipeline Company of America has 1 recorded secondary share sale and no primary funding rounds.

Natural Gas Pipeline Company of America funding rounds

Natural Gas Pipeline Company of America funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Feb 2021SecondaryArcLight Capital (lead)$830M$5.2BNatural Gas Pipeline Company of America LLC (NGPL) operates one of the largest interstate natural gas pipeline systems in the U.S., transporting natural gas into the Chicago-area market and to LNG export facilities on the Texas and Louisiana Gulf Coast. ArcLight Capital Partners acquired a 25% minority interest in NGPL from Kinder Morgan, Inc. and Brookfield Infrastructure Partners for $830 million. The transaction implies an enterprise value of $5.2 billion for NGPL, equivalent to approximately 11.2 times 2020 EBITDA. Upon closing, Kinder Morgan and Brookfield each retained a 37.5% interest, with Kinder Morgan continuing to operate the pipeline. The deal closed in the first quarter of 2021.

Who has invested in Natural Gas Pipeline Company of America?

1 investor has backed Natural Gas Pipeline Company of America across its funding rounds, including ArcLight Capital.

Lead investors include ArcLight Capital.


Natural Gas Pipeline Company of America Investors

Investors in Natural Gas Pipeline Company of America by funding rounds participated
InvestorHQRoundsRoleFirst check

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Natural Gas Pipeline Company of America Competitors

Natural Gas Pipeline Company of America competitors include listed companies like DHT Holdings, Teekay Tankers, Jiangxi Jovo Energy and Topaz Energy, and private ones like TANAP and Hyundai Oilbank.

Public and private companies comparable to Natural Gas Pipeline Company of America
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
DHT HoldingsUnited StatesUnited StatesPublicly listed$498M$329M$3.7B5.5x
Teekay TankersUnited StatesUnited StatesPublicly listed$952M$407M$3.5B2.6x
Jiangxi Jovo EnergyChinaChinaPublicly listed$3B$289M$3.4B0.9x
Topaz EnergyCanadaCanadaPublicly listed$233M-$3.4B13.2x
TANAPTurkeyAnkaraPrivate--$4B-
Hyundai OilbankSouth KoreaCheongjuPrivate$18B-$8.8B0.5x

Natural Gas Pipeline Company of America Public Comps

Natural Gas Pipeline Company of America is no longer listed, but its public comps include Aegis Vopak Terminals, Peyto, Athabasca Oil, Viva Energy Australia, Mesaieed Petrochemical, DHT Holdings, Teekay Tankers, Shanghai Petrochemical, Paramount Resources and USA Compression.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Aegis Vopak Terminals$96M$73M41.1x36.2x54.2x47.8x
Peyto$791M$713M5.4x4.2x6.0x5.3x
Athabasca Oil$976M$333M3.7x3.7x11.0x9.3x
Viva Energy Australia$20B$267M0.4x0.3x27.8x8.3x
Mesaieed Petrochemical$151M-23.3x---
DHT Holdings$498M$329M7.9x5.5x12.0x6.4x
Teekay Tankers$952M$407M2.4x2.6x5.7x4.0x
Shanghai Petrochemical$11B$23M0.3x0.3x134.8x30.2x

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Common questions about Natural Gas Pipeline Company of America

When was Natural Gas Pipeline Company of America founded?Natural Gas Pipeline Company of America was founded in 2000.
Where is Natural Gas Pipeline Company of America headquartered?Natural Gas Pipeline Company of America is headquartered in Chicago, IL, United States.
Is Natural Gas Pipeline Company of America publicly listed?No, Natural Gas Pipeline Company of America was acquired by ArcLight Capital in March 2025.
Who acquired Natural Gas Pipeline Company of America?Natural Gas Pipeline Company of America was acquired by ArcLight Capital in March 2025.
How much was Natural Gas Pipeline Company of America acquired for?Natural Gas Pipeline Company of America was acquired for $3.6B in March 2025.
What is Natural Gas Pipeline Company of America's valuation?Natural Gas Pipeline Company of America was last valued at $5.2B in its secondary sale in February 2021.
Who are Natural Gas Pipeline Company of America's investors?Natural Gas Pipeline Company of America's investors include ArcLight Capital.
Which companies are comparable to Natural Gas Pipeline Company of America?Companies comparable to Natural Gas Pipeline Company of America include DHT Holdings, Teekay Tankers, Jiangxi Jovo Energy, Topaz Energy, TANAP and Hyundai Oilbank.

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