Westlake Chemical has acquired a 50% equity interest in Cypress Interstate Pipeline from Kinder Morgan Energy Partners.
The equity interest was purchased pursuant to a long term contract right held by Westlake.
The 104 mile Cypress Pipeline supplies natural gas liquid feedstocks to Westlake’s Lake Charles, Louisiana petrochemical complex for the production of ethylene and ethylene derivatives such as polyethylene and styrene.
Westlake Chemical president & CEO Albert Chao said that this acquisition will help improve its long-term operating efficiency that will provide the company with overall improvement in the reliability of essential feedstock supply at the site.
The pipeline will continue to be operated by KMP under a long-term agreement.
Westlake Chemical is a manufacturer and supplier of petrochemicals, polymers and fabricated products with headquarters in Houston, Texas.