
The WPC joint venture has reached a final investment decision on the Traverse Pipeline along the Gulf Coast in partnership with Targa Resources Corp.
The joint venture, owned by WhiteWater, MPLX LP, and Enbridge Inc., has secured sufficient firm transportation agreements with investment grade shippers, WhiteWater said in a news release.
The bi-directional Traverse Pipeline is designed to transport up to 1.75 billion cubic feet per day (Bcfpd) of natural gas through approximately 160 miles of 36-inch pipeline along the Gulf Coast between Agua Dulce in South Texas and the Katy area, according to the release.
The Traverse Pipeline will be constructed and operated by WhiteWater and is expected to be in service in 2027, pending the receipt of customary regulatory and other approvals, the company said.
Supply for the Traverse Pipeline will be sourced from multiple connections, including, but not limited to, the Whistler, Blackcomb, and Matterhorn Express Pipelines, WhiteWater said, adding that the pipeline “enhances optionality for shippers to access multiple premium markets”.
The Traverse Pipeline will be owned by the Blackcomb Pipeline joint venture, which is owned 70.0 percent by WPC, 17.5 percent by Targa, and 12.5 percent by MPLX.
The WPC joint venture is owned by WhiteWater (50.6%), MPLX (30.4%), and Enbridge (19.0%). WPC owns long-haul natural gas pipelines and storage assets which transport natural gas from the Permian Basin to South Texas with direct connections to LNG export markets. The WPC joint venture owns the Whistler Pipeline, the Rio Bravo Pipeline, 70% of the Blackcomb Pipeline, 70% of the Traverse Pipeline, 70% of the ADCC Pipeline, and 50% of the Waha Gas Storage facility. WhiteWater’s stake in WPC is owned by I Squared Capital.
WPC owns long-haul natural gas pipelines and storage assets that transport natural gas from the Permian Basin to South Texas with direct connections to liquefied natural gas (LNG) export markets. The WPC joint venture owns the Whistler Pipeline, the Rio Bravo Pipeline, 70 percent of the ADCC Pipeline, and 50 percent of the Waha Gas Storage facility. WhiteWater’s stake in WPC is owned by I Squared Capital.
WhiteWater is an Austin, Texas-based infrastructure company, and operator of the Whistler Pipeline. WhiteWater is partnered with multiple private equity funds including but not limited to I Squared Capital.
MPLX describes itself as a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. MPLX’s assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. MPLX also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins.
Targa Resources describes itself as a leading provider of midstream services and is one of the largest independent midstream infrastructure companies in North America. Targa owns, operates, acquires and develops a diversified portfolio of complementary domestic midstream infrastructure assets.
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