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AUSTIN, Texas, April 3, 2025 /PRNewswire/ -- WhiteWater today announced that WhiteWater, MPLX LP (NYSE: MPLX), and Enbridge Inc. (NYSE: ENB), through the WPC joint venture ("WPC"), have partnered with an affiliate of Targa Resources Corp. (NYSE: TRGP) and have reached final investment decision to move forward with the construction of the Traverse Pipeline, having secured sufficient firm transportation agreements with investment grade shippers.
The bi-directional Traverse Pipeline is designed to transport up to 1.75 billion cubic feet per day (Bcf/d) of natural gas through approximately 160 miles of 36-inch pipeline along the Gulf Coast between Agua Dulce in South Texas and the Katy area. Supply for the Traverse Pipeline will be sourced from multiple connections, including, but not limited to, the Whistler, Blackcomb, and Matterhorn Express Pipelines. The Traverse Pipeline enhances optionality for shippers to access multiple premium markets.
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 the receipt of customary regulatory and other approvals.
About the WPC Joint Venture
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. The WPC joint venture 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.
About WhiteWater
WhiteWater is an Austin, Texas based infrastructure company and operator of multiple gas transmission assets, including the Whistler Pipeline and the Blackcomb Pipeline. WhiteWater is partnered with multiple private equity funds, including but not limited to I Squared Capital. For more information about WhiteWater, visit www.wwdev.com.
About I Squared Capital
I Squared is a leading independent global infrastructure investor managing over $40 billion in assets. We build investment platforms from the ground up—starting small and scaling big. Combining global insight with local expertise, we tackle complex challenges, back smarter businesses, and invest in sustainable infrastructure that delivers essential services to millions worldwide. Our team of 280+ is headquartered in Miami with offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney, and Taipei. We manage a diverse portfolio of 89 companies across 70+ countries, employing over 66,000 people in sectors including utilities, energy, digital infrastructure, transport, environmental, and social infrastructure. Learn more at www.isquaredcapital.com.