EnLink completes acquisition of Gulf Coast pipeline asssets

The EnLink Midstream companies, EnLink Midstream Partners, LP and EnLink Midstream, LLC, have announced that the Partnership completed its previously announced acquisition of Gulf Coast natural gas pipeline assets including the Bridgeline system (the natural gas assets) from Chevron Pipe Line Company and Chevron Midstream Pipelines LLC.

“The acquisition of these highly strategic assets builds upon our franchise position in the Louisiana market and provides a substantial platform for growth in an area we know well,” said Barry E. Davis, EnLink Midstream President and Chief Executive Officer. “Our core capabilities and strong financial position allow us to take advantage of growing demand in South Louisiana’s industrial, refining and petrochemical marketplace. We look forward to providing high quality midstream services to our customers, both existing and new.”

The natural gas assets include approximately 1400 miles of natural gas pipelines in three systems spanning from Beaumont, Texas to the Mississippi River corridor, approximately 11 billion ft³ of working natural gas storage capacity in three caverns in Southern Louisiana and ownership and management of the title tracking services offered at the Henry Hub, the delivery location for NYMEX natural gas futures contracts.

Adapted from press release by Hannah Priestley-Eaton

Read the article online at: https://www.worldpipelines.com/contracts-and-tenders/03112014/enlink-completes-acquisition-of-gulf-coast-pipeline-asssets/