July 16 (LNGJ) - Energy Transfer, the owner of pipelines and other assets in the Permian Basin and the US Gulf Coast as well as the currently stalled LNG export project at Lake Charles in Louisiana, has completed the acquisition of WTG Midstream for $3.25 billion in cash and shares.
Energy Transfer bought WTG from affiliates of US assets manager Stonepeak, the Davis Estate and Midland, Texas-based Diamondback Energy. The acquired assets add around 6,000 miles of gas gathering pipelines that extend the network in the Midland Basin as well as eight gas processing plants with a total capacity of 1.3 billion cubic feet per day and two additional processing plants which are under construction.
