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Consolidated Edison, Crestwood form pipeline and storage JV
April 21 (Reuters) - Consolidated Edison Inc said its unit would purchase a 50 percent stake in a new entity that will hold Crestwood Equity Partners LP's natural gas pipeline and storage business for $975 million.
The joint venture will own natural gas pipelines and storage facilities that provide a critical link between natural gas fields and Northeast U.S. markets
The new entity Stagecoach Gas Services LLC will have an implied market value of about $2 billion, the companies said in a statement.
(Reporting by Swetha Gopinath in Bengaluru; Editing by Anil D'Silva)
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