Source Pravda.Ru

Enterprise Products Partners acquires stake in Pathfinder Pipeline project

Enterprise Products Partners L.P. (NYSE: EPD), a natural gas and crude oil pipeline company, has acquired a 50 percent stake in TransCanada’s project. Financial terms of the deal were not disclosed.

TransCanada Corporation (TSX: TRP, (NYSE: TRP), a major North American energy company, is proposing a natural gas pipeline project from the U.S. Rockies supply basins to markets in the U.S. Midwest. The pipeline is being developed in response to forecast supply growth in the U.S. Rockies gas basins that is anticipated to exceed existing Rockies export transportation capacity in the 2010 to 2012 timeframe.

The proposed Pathfinder Gas Pipeline project is an approximate 500-mile (800-kilometre), 42-inch natural gas pipeline that will move gas northeastward from the Rockies connecting Wamsutter, Wyoming to the Northern Border Pipeline Company system for delivery into the Ventura and Chicago area markets. The project will include an option for an approximate 140-mile (225-kilometre) pipeline connecting Meeker, Colorado to Wamsutter. The initial capacity for the pipeline is 1.2 Bcf/d, with an ultimate capacity of 2.0 Bcf/d. The expected in service date is late 2010.

The transaction means affiliates of Houston-based Enterprise (NYSE: EPD) and Fort Worth-based Quicksilver Gas Services LP (NYSE: KGS) own up to 40 percent and 10 percent, respectively, of the pipeline, and a commitment to ship 500 million cubic feet per day of natural gas for a 10-year term.

The companies plan to form a new company to handle the natural gas shipment, with Enterprise owning an 80 percent stake and Quicksilver owning the remainder of the new entity.

TransCanada will retain a 50 percent ownership stake and will act as developer, constructor and operator of the project.

Comments
The Sham called Democracy
Benjamin Netanyahu’s nightmare comes true as Putin crushes his plans
Benjamin Netanyahu’s nightmare comes true as Putin crushes his plans
Benjamin Netanyahu’s nightmare comes true as Putin crushes his plans
Ukraine and PMC Blackwater to poison Donbass with radioactive waste
Ukraine and PMC Blackwater to poison Donbass with radioactive waste
Aretha Franklin: A colossus, a woman, a lady, a light and a soul
Russian government prepares to get rid of US dollar in economy
Turkey desperately tries to rescue its national currency as it falls to all-time lows
Ukraine dreams of what it can do to Crimea after winning war with Russia
Ukraine dreams of what it can do to Crimea after winning war with Russia
Details of Putin-Merkel surprise meeting unveiled
China turns two powerful US and UK destroyers into worthless buckets
Ukraine and PMC Blackwater to poison Donbass with radioactive waste
The insane idea in Germany: "pedophilia normal love"
The insane idea in Germany: "pedophilia normal love"
Russia to build major naval base on the coast of Caspian Sea
Russia to build major naval base on the coast of Caspian Sea
Russian woman killed when hanging out naked of moving car in Dominican Republic
USA and Russia to add more fire and brimstone into the sauce of their relationship
USA and Russia to add more fire and brimstone into the sauce of their relationship