EnLink Midstream To Buy Gulf Coast Natural Gas Pipeline Systems For $235 Mln

(RTTNews) - The EnLink Midstream companies, EnLink Midstream Partners, LP (ENLK) and EnLink Midstream, LLC (ENLC) said a subsidiary of the Partnership has inked a definitive deal with Chevron Pipe Line Company and Chevron Midstream Pipelines LLC to acquire Gulf Coast natural gas pipeline assets including the Bridgeline system mainly located in Southern Louisiana for $235 million.

The natural gas assets include around 1,400 miles of natural gas pipelines spanning from Beaumont, Texas to the Mississippi River corridor and nearly 11 billion cubic feet of working natural gas storage capacity in Southern Louisiana. These natural gas assets, combined with the Partnership's existing Louisiana assets, would provide EnLink Midstream with tremendous optionality to provide services to Southern Louisiana's growing industrial, refining and petrochemical marketplace.