El Paso Corporation (NYSE: EP), provides natural gas and related energy products and is one of North America's largest natural gas producers. It is headquartered in Houston, Texas. United States.[1]
The company owns North America's largest natural gas pipeline system which goes from border-to-border and coast-to-coast. The system includes Colorado Interstate Gas, El Paso Natural Gas, Southern Natural Gas, Tennessee Gas Pipeline and Ruby Pipeline. The El Paso Corporation also owns fifty percent of Great Lakes Transmission and Florida Gas Transmission and employs 6,000 people. Florida Gas is part of Southern Natural Gas. In 1999 the company doubled in size when it merged with Birmingham, Alabama based natural gas giant Sonat. It went on to acquire Coastal States Gas in 2001.
The company's major offices are located in Houston, Texas, Birmingham, Alabama and Colorado Springs, Colorado. The company's current CEO is Douglas L. Foshee.
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The company was founded in 1928 by Houston attorney Paul Kayser, who identified the city of El Paso, Texas as a good market for natural gas transported by pipeline from Jal, New Mexico.
In October 2011, Kinder Morgan acquired El Paso Corp. in a $21.1 billion deal.[2]
In December 2011, the non-partisan organization Public Campaign criticized El Paso for spending $2.94 million on lobbying and not paying any taxes during 2008-2010, instead getting $41 million in tax rebates, despite making a profit of $4.1 billion and increasing executive pay by 47%.[3]