2PointZero to Buy U.S. Gas Pipeline Developer Traverse Midstream for $2.3 Billion

Abu Dhabi’s 2PointZero is acquiring Traverse Midstream in a $2.3 billion deal, expanding its stake in U.S. gas pipelines tied to Marcellus and Utica production.

(P&GJ) — Abu Dhabi-based 2PointZero has agreed to acquire U.S. pipeline developer Traverse Midstream Partners for $2.3 billion, expanding its position in natural gas infrastructure linked to key shale basins.

The transaction will be completed through subsidiary ePointZero, which will take a 100% stake in Traverse Midstream, according to a company statement to the Abu Dhabi Securities Exchange. The deal remains subject to regulatory approvals.

Traverse Midstream holds minority interests in major pipeline systems, including the Rover Pipeline and the Ohio River System, which move natural gas from the Marcellus and Utica basins to demand centers in the Midwest, Gulf Coast and eastern Canada.

The acquisition adds to growing Middle East investment in U.S. midstream assets, particularly those tied to long-haul gas transport and shale production flows.