Texas-based Enterprise Products Partners has merged with pipeline operator Teppco Partners, boosting storage capacity to 200 million barrels for crude, refined products and natural gas liquids.
The name Enterprise Products Partners will remain, owning nearly 48,000 miles of crude and natural gas pipelines, and 27 billion cubic feet of natural gas storage capacity.
The all-stock deal totals about $3.3 billion (2.35 billion), and is expected to close by Q4. Operations will run throughout the US, on the east, west and gulf coasts.
It also will control one of the largest US terminals for natural gas liquids in the Houston Ship Channel.
The combined entity will have an equity market capitalisation of about $14 billion, creating a portfolio of largely fee-based operations spread out geographically.