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Energy Transfer acquiring Enable Midstream in $7B deal | Business

Dallas-based Energy Transfer LP is acquiring Enable Midstream Partners LP in Oklahoma in a $7.2 billion deal that combines assets that cover an area that includes Louisiana.

Energy Transfer said the acquisition will increase its footprint across multiple regions and increase connections to its natural gas and natural gas liquids transportation businesses.

The acquisition will provide significant natural gas-gathering and processing assets in the Arkoma basin across Oklahoma and Arkansas, as well as the Haynesville Shale in East Texas and northwest Louisiana and integrate them with Energy Transfer’s existing natural gas liquids transportation and fractionation assets on the U.S. Gulf Coast. 

Energy Transfer, which owns the Lake Charles LNG Co. that’s proposing an LNG export terminal in Louisiana, said the deal also will enhance its connections to the global liquefied natural gas market and growing global demand for natural gas as the world transitions to cleaner power and fuel sources.

Energy Transfer LP also is seeking to replace an existing offshore natural gas platform and build a crude oil export project in the Gulf of Mexico 99 miles offshore from Cameron Parish.

Energy Transfer said it expects the combined company to generate more than $100 million of annual cost and efficiency savings, excluding potential financial and commercial synergies that could result from integrating Enable’s Anadarko gathering and processing complex with Energy Transfer’s fractionation assets on the Gulf Coast.

Read More: Energy Transfer acquiring Enable Midstream in $7B deal | Business

2021-02-17 16:00:00

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