A definitive agreement to acquire Third Coast Midstream LLC’s natural gas transmission business was announced by Basalt Infrastructure Partners.
The Natural Gas Transmission Business includes 7 regulated natural gas lateral pipelines that are connected to 8 major long-haul pipelines, ensuring reliable gas supply to customers across Louisiana, Alabama, Mississippi, Tennessee and Arkansas.
"We are proud of the accomplishments our team has executed over the last several years in building out this portfolio of high-quality gas transmission assets in the Southeast United States," stated Matt Rowland, Third Coast's President and Chief Executive Officer. “The sale is a further step in Third Coast's strategic repositioning to focus on its core Gulf of Mexico infrastructure platform."
The lateral pipelines stretches approximately 550 miles and have a total capacity of over 1,600 MDth per day. The terms of the transaction are not being disclosed and consummation of the transaction remains subject to customary closing conditions.