ArcLight Capital Partners has acquired Targa Resources, which owns a 25% equity interest in Gulf Coast Express Pipeline.
GCX is a natural gas pipeline with 2.02 Bcf/d of capacity that is underpinned by a diverse array of shippers.
“ArcLight is pleased to acquire newly constructed, critical-path midstream infrastructure to assist continued energy transition efforts,” said Lucius Taylor, managing director at ArcLight. “We strongly believe that, alongside our operating partners, GCX will continue to help supply growing global gas demand by bringing responsibly-sourced Permian Basin natural gas production to key demand markets as we transition to a clean and secure energy future.”
Macquarie Capital acted as financial advisor and Latham & Watkins LLP acted as legal counsel to ArcLight on the transaction.