Under the terms of the agreement signed earlier, EnLink Midstream Partners and EnLink Midstream will acquire Gulf Coast natural gas pipeline assets including the Bridgeline system predominantly located in Southern Louisiana.
EnLink Midstream president and chief executive officer Barry Davis said: "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.
"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 1,400 miles of natural gas pipelines in three systems across Beaumont, Texas to the Mississippi River corridor, and approximately 11 billion cubic feet of working natural gas storage capacity in three caverns in Southern Louisiana.
In addition to enhancing the optionality of EnLink’s combined Louisiana assets, the acquisition is expected to generate system-optimization and operational cost synergies within EnLink’s existing Louisiana natural gas system.
