By Chelsey Dulaney
EnLink Midstream Partners LP signed a deal with Chevron Corp.'s
pipeline business to buy 1,400 miles of natural gas pipelines in
Louisiana for $235 million.
The assets include Gulf Coast natural gas pipelines spanning
from Beaumont, Texas, to the Mississippi River corridor and about
11 billion cubic feet of storage capacity.
EnLink Midstream, which was formed through a combination of
Crosstex Energy LP and Devon Energy's midstream assets, said the
deal will expand its position in Louisiana's booming refining
market.
Earlier this month, Chevron's chief executive John Watson said
he expects global demand for natural gas to continue to grow over
the next 20 years.
The deal, subject to regulatory approvals, is expected to close
in the fourth quarter.
Write to Chelsey Dulaney at chelsey.dulaney@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires