NJR Midstream invests in MIRA's Leaf River Energy Center in the US
NJR Midstream has entered into an agreement to acquire Leaf River Energy Center, LLC from Macquarie Infrastructure Partners, which operates within the Macquarie Infrastructure and Real Assets (MIRA) division of the Macquarie Group. The agreement purchase price for Leaf River is US$367.5 million subject to certain contractual conditions. The transaction is expected to close in 2019 and supports NJR’s long-term net financial earnings growth rate of 6 to 8 percent.
A premier natural gas storage facility with a seasoned management team, Leaf River is strategically located in southeastern Mississippi with unique reliability capabilities and connections to six interstate pipelines. It consists of three salt dome caverns with a combined working natural gas storage capacity of 32.2 million dekatherms (MMDth). Leaf River’s caverns came online between 2011 and 2014 and support safe and reliable operations with a strong environmental record. The facility is also designed with the capability to economically expand with the installation of an additional storage cavern that would add approximately 13.1 MMDth of storage capacity.
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