Firms to optimize Gulf Coast assets

HOUSTON - Enterprise Products Partners (EPD) and American Midstream Partners (AMID) announced Aug. 23 they have entered into an agreement under which AMID may choose to purchase a 25 percent interest in Enterprise’s Pascagoula, Miss., natural gas processing plant. The purchase option is subject to certain conditions, including AMID completing modifications to some facilities on its High Point pipeline system that will provide incremental natural gas volumes with access to the Pascagoula plant. The High Point pipeline system delivers offshore natural gas production to the Enterprise-operated Toca Gas Plant in St. Bernard Parish, La., for processing services. As the result of the pending modifications to High Point, Toca plant owners have voted to discontinue operations. EPD is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. The partnership’s assets would include some 50,000 miles of pipelines; 260M barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14B cubic feet of natural gas storage capacity. (Source: The Associated Press 08/23/18)