Basalt to Acquire Natural Gas Transmission Business from Third Coast Midstream
A fund managed by Basalt Infrastructure Partners II GP Limited (“Basalt”) today announced that it has entered into a definitive agreement to acquire Third Coast Midstream LLC’s natural gas transmission business (the “Natural Gas Transmission Business”).
“This investment represents a rare opportunity to invest in a portfolio of demand-driven, regulated 'last-mile' natural gas pipelines serving utilities and other key end-user customers in the Southeastern United States. The business is strategically positioned to capture continued industrial growth in the region,” said David Greenblatt, Partner of Basalt Infrastructure Partners LLC, exclusive investment Advisor to the Basalt funds. “Cash flows from the business are anchored by long-term firm transportation contracts with a diverse customer base of utility, power and industrial customers.”
"We are proud of the accomplishments our team has executed over the last several years in building out this portfolio of high-quality gas transmission assets in the Southeast United States," stated Matt Rowland, Third Coast's President and Chief Executive Officer. "We are confident that Basalt brings the right combination of financial strength and strategic experience to continue safe, efficient and growing operations. The sale is a further step in Third Coast's strategic repositioning to focus on its core Gulf of Mexico infrastructure platform."
The Natural Gas Transmission Business includes 7 regulated natural gas lateral pipelines with total capacity of over 1,600 MDth per day, stretching approximately 550 miles. The lateral pipelines are connected to 8 major long-haul pipelines, ensuring reliable gas supply to customers across Louisiana, Alabama, Mississippi, Tennessee and Arkansas.
Consummation of the transaction remains subject to customary closing conditions, including expiration or termination of applicable regulatory waiting periods. The terms of the transaction are not being disclosed.
Barclays served as exclusive financial adviser to Basalt and Vinson & Elkins served as its legal adviser. RBC Capital Markets served as exclusive financial adviser to Third Coast and Orrick served as its legal adviser.
About Basalt
Basalt manages an infrastructure equity investment fund focusing on investments in utilities, power, transport, and communications infrastructure in the United States, Canada and Europe. This acquisition will represent Basalt’s ninth investment in the second flagship Basalt fund. Other investments by the second flagship Basalt fund include DB Energy Assets, Helios Power and Detroit Thermal in the United States, and North Star, Mareccio Energia, Caronte and Tourist, Manx Telecom, and Connect Fibre in Europe.
For more information, please visit www.basaltinfra.com.
About Third Coast
Headquartered in Houston, Texas, Third Coast Midstream, LLC is a full-service midstream company with assets that provide critical midstream infrastructure linking producers of natural gas, crude oil, NGLs, and condensate to end-use markets. Third Coast’s assets are strategically located in some of the most prolific offshore basins in the Deepwater Gulf of Mexico and onshore basins in the Eagle Ford and East Texas. Third Coast currently owns or has an ownership interest in approximately 5,100 miles of interstate and intrastate pipelines, as well as ownership in gas processing plants, fractionation facilities, an offshore semi-submersible floating production system with nameplate processing capacity of 90 MBbl/d of crude oil and 220 MMcf/d of natural gas, and a terminal site with approximately 3.0 MMBbls of storage capacity.
For more information, please visit www.3CMidstream.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191017005688/en/
Contact information
For media inquiries:
Basalt Infrastructure Partners LLC
David Greenblatt
Partner
(646) 661-3900
david.greenblatt@basaltinfra.com
New York, NY
Third Coast Midstream, LLC
Nadine Moustafa
General Counsel
(346) 241-3412
nmoustafa@3CMidstream.com
Houston, TX
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
LambdaTest and SVAM International Inc. Announce Partnership to Transform Quality Engineering for Businesses26.11.2025 19:00:00 EET | Press release
LambdaTest, a Gen-AI native quality engineering platform, announced a partnership with SVAM International, Inc., a global leader in digital transformation services. This strategic alliance marks a significant step forward in their mission to transform quality engineering for businesses worldwide. The partnership allows LambdaTest to extend its AI-native quality engineering capabilities into SVAM’s extensive digital transformation ecosystem. By integrating with SVAM’s experience in large-scale application development, testing, and delivery across major New York State and City agencies, as well as their platform expertise across Salesforce, ServiceNow, and Dynamics365, LambdaTest will empower more enterprises to modernize their software delivery pipelines. With LambdaTest’s intelligent test orchestration and execution engine at the core, teams can test smarter, accelerate release cycles, and achieve faster time-to-market at scale. Founded in 2017, LambdaTest is headquartered in San Franc
GLORY Acquires Remaining Equity Shares in Acrelec Group26.11.2025 17:11:00 EET | Press release
Glory Global Solutions (International) Ltd, a wholly-owned subsidiary of GLORY Ltd. [TYO:6457], has announced the acquisition of the remaining equity shares in Acrelec Group SAS. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251126039437/en/ Acrelec is a global technology company focused on reinventing the customer experience for restaurant and retail brands. Leveraging decades of software, hardware and service expertise, the company develops and integrates new platforms that increase customer engagement, optimize efficiency and improve operations. With over 120,000 installations across more than 70 countries, Acrelec counts many of the world’s best-known restaurant mega-brands among its customers. We announce that Jalel Souissi has left the Acrelec Group following the completion of the recent share acquisition. Jalel Souissi has played a pivotal role in the development and success of Acrelec, serving as Co-Founder and Co-C
Cegid Acquires Shine to Accelerate the Path of Becoming Europe's Leading Financial Copilot for SMBs and Accountants26.11.2025 15:00:00 EET | Press release
Cegid, a European leader in cloud software for finance, accounting, HR, and retail software, and Shine, a fast-growing European fintech unicorn providing digital business accounts and payments, e-invoicing, accounting, and payroll software to small businesses across Europe, announced today that the companies have entered a definitive agreement to join forces to form a European champion and become a leading provider of software for businesses and their accountants. This transformational combination will create the first fully integrated, cloud-native and AI-driven financial hub for SMBs and accounting professionals in Europe – bringing together market-leading capabilities in e-invoicing, accounting, digital business accounts and payments, tax, HR, and payroll in a single unified platform. Accelerating Cegid’s European growth strategy by serving more than one million SMBs, and 15,000 accountants Shine brings to Cegid more than 400,000 SMB customers, a strong brand, and a highly scalable
U.S. FDA Grants Priority Review to Sonrotoclax for the Treatment of Relapsed or Refractory Mantle Cell Lymphoma26.11.2025 13:00:00 EET | Press release
BeOne Medicines Ltd. (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, today announced that the U.S. Food and Drug Administration (FDA) has accepted and granted Priority Review to a New Drug Application (NDA) for sonrotoclax, a next-generation BCL2 inhibitor, for the treatment of adult patients with relapsed or refractory (R/R) mantle cell lymphoma (MCL), following treatment with a Bruton’s tyrosine kinase (BTK) inhibitor. “Sonrotoclax is advancing with remarkable speed, from Breakthrough Therapy Designation to Priority Review, all within a short window,” said Lai Wang, Ph.D., Global Head of R&D at BeOne. “That pace reflects both the strength of the data and the urgency of the need for patients with R/R MCL. With rapid, deep, and durable responses and a manageable safety profile, sonrotoclax is emerging as a potential best-in-class BCL2 inhibitor, alongside our two other transformative hematology assets – BTK inhibitor BRUKINSA, and investigational BTK degrader BGB-16
Modon Holding Announces a Strategic Investment in Wellington Lifestyle Partners, Expanding Its Global Portfolio in Luxury Lifestyle Destination Development26.11.2025 12:15:00 EET | Press release
Abu Dhabi-based Modon Holding P.S.C (“Modon”) today announced a strategic investment in Wellington Lifestyle Partners (“WLP”), joining a consortium of existing investors in the company. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251125937208/en/ Aerial shot of Wellington International (Photo: AETOSWire) Modon’s investment will support the long-term development of Wellington International equestrian showgrounds and deliver a landmark ultra-luxury real estate development featuring high-end residences, a boutique hotel, a commercial marketplace and a championship golf course located in Wellington, Florida – a global icon of equestrian sport. This investment marks Modon’s first direct investment in an equestrian led development in the United States, complementing its existing global portfolio, and reinforcing its strategy to partner with leading international organisations in expanding its presence across ultra-luxury destin
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom