Getting your player ready...
El Paso Corp., the owner of the longest interstate natural-gas pipeline network in the U.S., said Global Infrastructure Partners will buy a stake in its $3 billion Ruby pipeline project for as much as $700 million.
The New York-based fund will get a preferred equity stake in the pipeline paying 13 percent interest, Houston- based El Paso said Monday in a statement.
El Paso expects to begin shipping as much as 1.5 billion cubic feet a day of natural gas from Wyoming’s Opal trading hub to California, Nevada and other Western states in 2011.
