LDH Energy selling business unit, including Hub City facility
by For the MBJ
Published: March 24,2011
HATTIESBURG — Louis Dreyfus Highbridge Energy, LLC (LDH Energy) has entered into a definitive agreement to sell its Midstream Assets business segment, LDH Energy Asset Holdings, LLC, to ETP-Regency Midstream Holdings, LLC, a joint venture owned by Energy Transfer Partners, L.P., and Regency Energy Partners, L.P., for approximately $1.925 billion in cash.
LDH Energy’s Midstream Assets consist of energy infrastructure operations that provide storage, transportation, fractionation and processing services and handle natural gas, natural gas liquids (NGLs), petrochemicals, refined products and refinery off-gas.
The assets sold in this transaction include an NGL storage facility at Hattiesburg as well as an NGL refined products and petrochemical storage facility at Mont Belvieu, Texas, a mixed-stream NGL pipeline originating in the Permian basin of West Texas and terminating at Mont Belvieu, Texas, refinery off-gas processing and NGL/petrochemicals fractionation facilities in South Louisiana, a 20 percent interest in the Sea Robin cryogenic gas processing plant in Louisiana and several growth projects in varying stages of development.
LDH Energy is retaining its coal-blending terminal on the Big Sandy River in W.V., which was owned by Midstream Assets.
The transaction is expected to close in the second quarter of 2011, subject to customary closing conditions including regulatory approvals.
Source: Louis Dreyfus Highbridge Energy, LLC
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