ONEOK, Inc. (NYSE: OKE), WhiteWater, MPLX LP (NYSE: MPLX) and Enbridge Inc. (NYSE: ENB), through the existing Matterhorn joint venture (Matterhorn JV), announced a new natural gas pipeline to transport growing natural gas production from the Permian Basin to the Gulf Coast region.
The approximately 450-mile, 42-inch Eiger Express Pipeline is designed to transport up to approximately 2.5 billion cubic feet per day (Bcf/d) of natural gas from the Permian Basin in West Texas to the Katy area near Houston, Texas, and holds reserved capacity for deliveries to the Corpus Christi, Texas, market. The pipeline will source natural gas from processing facilities, including those owned by ONEOK and MPLX, and pipeline connections in the Midland and Delaware basins.
The Eiger Express Pipeline joint venture is owned 70% by the Matterhorn JV, 15% by ONEOK and 15% by MPLX. ONEOK's total ownership interest in the pipeline is 25.5%, which includes its ownership interest in Matterhorn JV.
"This important infrastructure project is needed to provide additional transportation capacity out of the highly productive Permian Basin," said Pierce H. Norton II, ONEOK president and chief executive officer. "This pipeline's strategic location offers connectivity to growing natural gas demand markets, helping to meet the need for increasing electricity generation and international demand for liquified natural gas (LNG) exports."
The pipeline is supported by firm transportation agreements with contract terms of 10 years or longer. WhiteWater will construct and operate the pipeline, which is expected to be completed in mid-2028, pending receipt of customary regulatory and other approvals.
About ONEOK
Read Related Articles
- Matterhorn Express Pipeline Reaches Final Investment Decision
- 450-Mile Whistler Pipeline Placed into Service in Texas
- ONEOK Announces Joint Ventures with MPLX to Build a New LPG Export Terminal and Pipeline on U.S. Gulf Coast
- MPLX to Expand Whistler Pipeline Capacity in the Permian Basin
- ONEOK Acquires Remaining Interest in Delaware Basin JV for $940 Million
ONEOK (NYSE: OKE) is an S&P 500 company headquartered in Tulsa, Oklahoma. We deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation, storage and marine export services. Through our approximately 60,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest integrated energy infrastructure companies in North America, ONEOK is delivering energy that makes a difference in the lives of people in the U.S. and around the world. For information about ONEOK, visit the website: www.oneok.com.
About the Matterhorn Joint Venture:
The Matterhorn JV is owned by WhiteWater (65%), ONEOK (15%), MPLX (10%) and Enbridge (10%). The joint venture owns long-haul natural gas pipelines which transport natural gas from the Permian Basin to the Gulf Coast with direct connections to LNG export markets. The Matterhorn JV owns the Matterhorn Express Pipeline and 70% of the Eiger Express Pipeline. WhiteWater's stake in the Matterhorn JV is owned by FIC and I Squared Capital.
About WhiteWater:
WhiteWater is an Austin, Texas based infrastructure company and operator of multiple gas transmission assets, including the Matterhorn Express Pipeline and the Eiger Express Pipeline. WhiteWater is partnered with multiple private equity funds, including but not limited to FIC and I Squared Capital. For more information about WhiteWater, visit www.wwdev.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 to advance 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.
Comments and Discussion
There are no comments yet.
Add a Comment
Please log in or register to participate in comments and discussions.