Targa Resources, NextEra, Others to Develop Gas Pipeline

By Michael Dabaie

Targa Resources Corp. (TRGP), NextEra Energy Inc. (NEE), WhiteWater Midstream LLC and MPLX LP (MPLX) said Friday they have signed a letter of intent to collectively develop the proposed Whistler Pipeline project.

The pipeline project would provide an outlet for increased natural gas production from the Permian Basin to markets along the Texas Gulf Coast, the companies said. Under the agreement, the companies and their producer customers would collectively commit volumes of more than 1.5 billion cubic feet per day of natural gas.

The Whistler project would begin operation in the fourth quarter of 2020. NextEra Energy would construct the project, which would be operated by Targa, the companies said.

Shares of Targa were up 0.2% to $52.03 Friday.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

August 03, 2018 11:19 ET (15:19 GMT)

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