Kinder Morgan Texas Pipeline, DCP Midstream and an affiliate of Targa Resources have a final investment decision to proceed with the Gulf Coast Express Pipeline project.
The consortium has executed definitive joint venture agreements and have secured sufficient firm transportation agreements with shippers.
Around 85% of the project capacity is subscribed and committed under long-term, binding transportation agreement, and the partners expect that the remaining capacity will be subscribed by early this year.
The $1.7 billion project is designed to transport up to 1.92 billion cubic feet per day of natural gas. It originates at the Waha Hub near Coyanosa, Texas in the Permian Basin and terminating near Agua Dulce, Texas.
It is expected to be in service in October 2019 and construction is planned to start in the first quarter of 2018.
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