Dallas-based EnLink Midstream Partners LP (EMP) (NYSE:ENLK) has entered into a series of agreements with MPL Investment LLC, a subsidiary of Findlay, Ohio-based Marathon Petroleum Corp. (NYSE:MPC), to create a 50/50 joint venture, named Ascension Pipeline Company LLC.
This joint venture will build a new 30-mile natural gas liquids (NGL) pipeline connecting EMP’s existing Riverside fractionation and terminal complex to Marathon Petroleum’s Garyville refinery located on the Mississippi River.
The bolt-on project to EMP’s Cajun-Sibon NGL system is supported by long-term, fee-based contracts with Marathon Petroleum. Under the arrangement, EMP will serve as the construction manager and operator of the pipeline project, which the company expects to place in service early in 2017.
In related news, EMP will expand its natural gas gathering and processing system in the Permian Basin by constructing a new natural gas processing plant and expanding its rich gas gathering system.
The new 120 million cubic feet per day gas processing plant will be strategically located near EMP’s existing midstream assets and will offer additional gas processing capabilities to producer customers in the region, including Oklahoma City-based Devon Energy (NYSE:DVN). The company expects to complete the project by the end of 2015.
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