Enterprise Selling NatGas Storage Unit To Boardwalk HP Storage for $550-MM

摘要

Houston— Enterprise Products Partners has signed a definitive agreement to sell its Mississippi natural gas storage facilities, with about 29-billion cubic feet of capacity, to Boardwalk HP Storage Co. for $550-million. "While we believe our Mississippi natural gas storage complex is one of the most attractive on the U.S. Gulf Coast, the complex is a stand-alone asset that does not integrate with our natural gas pipeline systems," explained Enterprise President and Chief Executive Michael A. Creel. "We believe the Mississippi facilities will be more valuable to Boardwalk HP Storage Co., whose affiliate Boardwalk Pipeline Partners LP has complementary assets that may facilitate additional business opportunities and synergies."