Whistler pipeline secures $325-million construction investment

Whistler Pipeline LLC received $325 million from Global Infrastructure Partners (GIP) to fund construction of the 500-mile, 2-bcfd Whistler natural gas pipeline. Whistler, expected to enter service third-quarter 2021, will connect the Permian basin to Agua Dulce hub near Corpus Christi, Tex.

Whistler consists of a 450-mile, 42-in. OD transmission line running between the Waha hub and Agua Dulce and a 50-mile, 36-in. OD lateral providing Waha connectivity to Midland basin gas processors (OGJ Online. Nov. 15, 2019).

The pipeline is underpinned by long-term, contractual minimum volume agreements from investment grade Permian producers, providing them with direct access to South Texas, LNG, and Mexican gas markets.

GIP’s credit fund, GIP Spectrum Fund LP, along with its affiliates and co-investors purchased $325 million of an aggregate $400 million of senior secured bullet notes in Whistler Pipeline LLC. Whistler is owned by MPLX LP, WhiteWater Midstream, and a joint venture of Stonepeak Infrastructure Partners and West Texas Gas Inc.