By Naomi Klinge – Reporter, Houston Business Journal
A joint venture of midstream companies reached a final investment decision on a new natural gas pipeline from the Permian Basin to Katy.
The Matterhorn joint venture involves Tulsa, Oklahoma-based Oneok Inc. (NYSE: OKE), Austin-based WhiteWater, Ohio-based MPLX LP (NYSE: MPLX) and Canada-based Enbridge Inc. (NYSE: ENB), which has its U.S. headquarters in Houston.
The joint venture is developing the new 450-mile Eiger Express Pipeline, which is designed to transport up to 2.5 billion cubic feet per day of natural gas from the Permian Basin to Katy and will hold reserved capacity for deliveries to the Corpus Christi market.
The Matterhorn joint venture owns 70% of the Eiger Express Pipeline, while both Oneok and MPLX also own additional 15% stakes separate from the JV. Combined with their stakes in the JV, Oneok and MPLX own 25.5% and 22%, respectively, of the new pipeline.
