MPLX - Enbridge Forms Powerhouse JV For Permian Basin Gas Pipeline Expansion: Details | Benzinga
Enbridge Inc. (NYSE:ENB) penned a definitive deal with WhiteWater/I Squared Capital and MPLX LP (NYSE:MPLX) to form a joint venture to construct and operate natural gas pipeline and storage assets connecting Permian Basin natural gas supply to growing LNG and U.S. Gulf Coast (USGC) demand.
The joint venture, which will be owned by WhiteWater/I Squared (50.6%), MPLX (30.4%), and Enbridge (19.0%), includes a 100% stake in Whistler pipeline, Rio Bravo pipeline project, 70% interest in ADCC pipeline and 50% interest in Waha Gas Storage assets.
Around 98% of capacity is contracted under long-term, with an average contract length of over ten years, and about 90% of counterparties are ...