Sempra unit closes sale of stake in Rockies Express pipeline

Sempra U.S. Gas & Power, a unit of Sempra Energy (NYSE: SRE), today announced that it has completed the previously announced transaction with Tallgrass Energy Partners, LP (NYSE: TEP) to sell Sempra U.S. Gas & Power’s 25-percent interest in Rockies Express Pipeline LLC (REX) for approximately $440 million in cash.

Rockies Express Pipeline LLC is a Delaware limited liability company engaged in the ownership and operation of the Rockies Express Pipeline, a 1,712-mile natural gas transmission pipeline that extends from Opal, Wyoming, and Meeker, Colorado, to Clarington, Ohio, and is one of the largest natural gas pipelines ever constructed in North America.  A wholly owned subsidiary of Tallgrass Development, LP operates the pipeline. Tallgrass Development, LP and Tallgrass Energy Partners are members of the Tallgrass Energy family of companies, which also includes Tallgrass Energy GP, LP (NYSE: TEGP).