AUSTIN,
Texas, April 3, 2025 /PRNewswire/ -- WhiteWater
today announced that WhiteWater, MPLX LP (NYSE: MPLX), and Enbridge
Inc. (NYSE: ENB), through the WPC joint venture ("WPC"), have
partnered with an affiliate of Targa Resources Corp. (NYSE: TRGP)
and have reached final investment decision to move forward with the
construction of the Traverse Pipeline, having secured sufficient
firm transportation agreements with investment grade shippers.
The bi-directional Traverse Pipeline is designed to transport up
to 1.75 billion cubic feet per day (Bcf/d) of natural gas through
approximately 160 miles of 36-inch pipeline along the Gulf Coast
between Agua Dulce in South
Texas and the Katy area. Supply for the Traverse
Pipeline will be sourced from multiple connections, including, but
not limited to, the Whistler, Blackcomb, and Matterhorn Express
Pipelines. The Traverse Pipeline enhances optionality for shippers
to access multiple premium markets.
The Traverse Pipeline will be wholly owned by the Blackcomb
Pipeline joint venture, which is owned 70.0% by WPC, 17.5% by
Targa, and 12.5% by MPLX, which is incremental to MPLX's ownership
interest in WPC.
The Traverse Pipeline will be constructed and operated by
WhiteWater and is expected to be in service in 2027, pending the
receipt of customary regulatory and other approvals.
About the WPC Joint Venture
The WPC joint venture is owned by WhiteWater (50.6%), MPLX
(30.4%), and Enbridge (19.0%). WPC owns long-haul natural gas
pipelines and storage assets which transport natural gas from the
Permian Basin to South Texas with direct connections to
LNG export markets. The WPC joint venture owns the Whistler
Pipeline, the Rio Bravo Pipeline, 70% of the Blackcomb Pipeline,
70% of the Traverse Pipeline, 70% of the ADCC Pipeline, and 50% of
the Waha Gas Storage facility. WhiteWater's stake in WPC is owned
by I Squared Capital.
About WhiteWater
WhiteWater is an Austin, Texas based infrastructure
company and operator of multiple gas transmission assets, including
the Whistler Pipeline and the Blackcomb Pipeline. WhiteWater is
partnered with multiple private equity funds, including but not
limited to I Squared Capital. For more information about
WhiteWater, visit www.wwdev.com.
About I Squared Capital
I Squared is a leading independent global infrastructure
investor managing over $40 billion in
assets. We build investment platforms from the ground up—starting
small and scaling big. Combining global insight with local
expertise, we tackle complex challenges, back smarter businesses,
and invest in sustainable infrastructure that delivers essential
services to millions worldwide. Our team of 280+ is headquartered
in Miami with offices in
Abu Dhabi, London, Munich, New
Delhi, São Paulo, Singapore, Sydney, and Taipei. We manage a diverse portfolio of 89
companies across 70+ countries, employing over 66,000 people in
sectors including utilities, energy, digital infrastructure,
transport, environmental, and social infrastructure. Learn more at
www.isquaredcapital.com.
About MPLX LP
MPLX is a diversified, large-cap master limited partnership that
owns and operates midstream energy infrastructure and logistics
assets and provides fuels distribution services. MPLX's assets
include a network of crude oil and refined product pipelines; an
inland marine business; light-product terminals; storage caverns;
refinery tanks, docks, loading racks, and associated piping; and
crude and light-product marine terminals. MPLX also owns crude oil
and natural gas gathering systems and pipelines as well as natural
gas and NGL processing and fractionation facilities in key U.S.
supply basins. More information is available
at www.MPLX.com
About Enbridge Inc.
At Enbridge, we safely connect millions of people to the energy
they rely on every day, fueling quality of life through our North
American natural gas, oil and renewable power networks and our
growing European offshore wind portfolio. We're investing in modern
energy delivery infrastructure to sustain access to secure,
affordable energy and building on more than a century of operating
conventional energy infrastructure and two decades of experience in
renewable power. We're also advancing new technologies including
hydrogen, renewable natural gas and carbon capture and storage.
Headquartered in Calgary, Alberta, Enbridge's common shares trade under
the symbol ENB on the Toronto (TSX) and New
York (NYSE) stock exchanges. To learn more, visit us at
enbridge.com.
About Targa Resources Corp.
Targa Resources Corp. ("Targa") is a leading provider of
midstream services and is one of the largest independent
infrastructure companies in North America. Targa owns,
operates, acquires and develops a diversified portfolio of
complementary domestic infrastructure assets and its operations are
critical to the efficient, safe and reliable delivery of energy
across the United States and increasingly to the world.
Targa's assets connect natural gas and NGLs to domestic and
international markets with growing demand for cleaner fuels and
feedstocks. Targa is primarily engaged in the business of:
gathering, compressing, treating, processing, transporting, and
purchasing and selling natural gas; transporting, storing,
fractionating, treating, and purchasing and selling NGLs and NGL
products, including services to LPG exporters; and gathering,
storing, terminaling, and purchasing and selling crude oil.
Targa is a FORTUNE 500 company and is included in the S&P
500.
For more information, please visit the Company's website
at www.targaresources.com.
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SOURCE WhiteWater