ArcLight Acquires $857 Million Stake in Gulf Coast Express Pipeline

摘要

ArcLight Capital Partners has closed a $857 million deal to acquire a Targa Resources subsidiary that owns a 25% stake in the Gulf Coast Express Pipeline (GCX) from the Permian Basin. The 853-km (530-mile) Gulf Coast Express project has the capacity to transport up to 2 Bcf/d of natural gas from the Waha Hub in the Permian Basin to Agua Dulce, Texas, near Corpus Christi. GCX launched an open season in May to solicit commitments for a 570 MMcf/d expansion project, which will primarily involve compression expansions. Pending customer commitments, the target in-service date for the project is Dec. 1, 2023.