The WPC three way partnership has reached a last funding resolution on the Traverse Pipeline alongside the Gulf Coast in partnership with Targa Sources Corp.
The three way partnership, owned by WhiteWater, MPLX LP, and Enbridge Inc., has secured adequate agency transportation agreements with funding grade shippers, WhiteWater mentioned in a information launch.
The bi-directional Traverse Pipeline is designed to move as much as 1.75 billion cubic ft per day (Bcfpd) of pure fuel by way of roughly 160 miles of 36-inch pipeline alongside the Gulf Coast between Agua Dulce in South Texas and the Katy space, in response to the discharge.
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The Traverse Pipeline can be constructed and operated by WhiteWater and is predicted to be in service in 2027, pending the receipt of customary regulatory and different approvals, the corporate mentioned.
Provide for the Traverse Pipeline can be sourced from a number of connections, together with, however not restricted to, the Whistler, Blackcomb, and Matterhorn Specific Pipelines, WhiteWater mentioned, including that the pipeline “enhances optionality for shippers to entry a number of premium markets”.
The Traverse Pipeline can be owned by the Blackcomb Pipeline three way partnership, which is owned 70.0 p.c by WPC, 17.5 p.c by Targa, and 12.5 p.c by MPLX.
The WPC three way partnership is owned by WhiteWater (50.6%), MPLX (30.4%), and Enbridge (19.0%). WPC owns long-haul pure fuel pipelines and storage property which transport pure fuel from the Permian Basin to South Texas with direct connections to LNG export markets. The WPC three way partnership 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 Gasoline Storage facility. WhiteWater’s stake in WPC is owned by I Squared Capital.
WPC owns long-haul pure fuel pipelines and storage property that transport pure fuel from the Permian Basin to South Texas with direct connections to liquefied pure fuel (LNG) export markets. The WPC three way partnership owns the Whistler Pipeline, the Rio Bravo Pipeline, 70 p.c of the ADCC Pipeline, and 50 p.c of the Waha Gasoline Storage facility. WhiteWater’s stake in WPC is owned by I Squared Capital.
WhiteWater is an Austin, Texas-based infrastructure firm, and operator of the Whistler Pipeline. WhiteWater is partnered with a number of non-public fairness funds together with however not restricted to I Squared Capital.
MPLX describes itself as a diversified, large-cap grasp restricted partnership that owns and operates midstream power infrastructure and logistics property and supplies fuels distribution companies. MPLX’s property embody a community of crude oil and refined product pipelines; an inland marine enterprise; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and related piping; and crude and light-product marine terminals. MPLX additionally owns crude oil and pure fuel gathering methods and pipelines in addition to pure fuel and NGL processing and fractionation services in key U.S. provide basins.
Targa Sources describes itself as a number one supplier of midstream companies and is likely one of the largest impartial midstream infrastructure firms in North America. Targa owns, operates, acquires and develops a diversified portfolio of complementary home midstream infrastructure property.
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