WPC joint venture takes FID to advance Traverse natural gas pipeline

WhiteWater, MPLX LP, and Enbridge Inc.—through the WPC joint venture—have partnered with a Targa Resources Corp. affiliate to proceed with construction of the Traverse Pipeline, having secured sufficient firm transportation agreements with investment grade shippers.

The bi-directional pipeline is designed to transport up to 1.75 bcfd of natural gas through about 160 miles of 36-in. OD pipeline along the Gulf Coast between Agua Dulce in South Texas and the Katy area outside of Houston. 

Supply will be sourced from multiple connections, including, but not limited to, the Whistler, Blackcomb, and Matterhorn Express pipelines (OGJ Online, Aug. 1, 2024; May 19, 2022; June 10, 2019). 

The Traverse Pipeline will be wholly owned by the Blackcomb Pipeline joint venture, which is owned 70.0% by WPC, 17.5% by Targa, and 12.5% by MPLX, which is incremental to MPLX's ownership interest in WPC.

The Traverse pipeline will be constructed and operated by WhiteWater and is expected to be in service in 2027, pending receipt of customary regulatory and other approvals.

The WPC joint venture is owned by WhiteWater (50.6%), MPLX (30.4%), and Enbridge (19.0%). 

WPC owns long-haul natural gas pipelines and storage assets which transport natural gas from the Permian basin to South Texas with direct connections to LNG export markets. It owns the Whistler pipeline, the Rio Bravo pipeline, 70% of the Blackcomb pipeline, 70% of the Traverse pipeline, 70% of the ADCC pipeline, and 50% of the Waha gas storage facility. 

WhiteWater's stake in WPC is owned by I Squared Capital.