American Midstream Finalizes Sale of Propane Company
9/6/2017
American Midstream Partners has closed the sale of the partnership’s propane marketing and services business to SHV Energy N.V. for $170 million in cash.
Through this transaction, the partnership has divested 100% of its propane business, including Pinnacle Propane’s 40 service locations, Pinnacle Propane Express’ cylinder exchange business and related logistic assets, and the Alliant Gas utility system.
The partnership expects substantially all remaining proceeds from the sale will be redeployed in its core operating areas including previously announced transactions that occurred in the third quarter of 2017.
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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