US DCP Midstream acquires 10% stake in Texas Express NGL pipeline

12 April 2012 14:40  [Source: ICIS news]

HOUSTON (ICIS)--DCP Midstream Partners has acquired a 10% stake in the Texas Express natural gas liquids (NGL) pipeline, the US-based midstream energy firm said on Thursday.

The 580-mile Texas Express pipeline from Skellytown in Carson County, Texas, to Mont Belvieu near Houston, will supply petrochemical facilities on the US Gulf coast after starting up in 2013.

DCP said it acquired the stake, for about $85m (€65m), from Enterprise Products Partners, another US-based midstream energy firm. 

Following the deal, Enterprise and Canadian pipeline firm Enbridge each have a 35% stake in the pipeline. US oil and gas firm Anadarko Petroleum holds 20%, with DCP holding the remaining 10%.

DCP also said it committed 20,000 bbl/day of NGL to the Texas Express project, increasing total long-term shipper commitments on pipeline to 252,000 bbl/day.

In related news on Thursday, DCP said it will partner with Enterprise and Anadarko to design and construct a 435-mile NGL pipeline from the Denver-Julesburg basin in Colorado to Skellytown.

($1 = €0.76)

By: Stefan Baumgarten
+1 713 525 2653

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