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
AI’s Water Demand to Surge Nearly 130% by 2050 – New Research Shows How to Build a Water-Secure AI Economy14.1.2026 17:00:00 EET | Press release
The rapid global expansion of artificial intelligence is set to drive a 129% increase in water demand across the AI value chain by 2050, according to new research by Xylem (NYSE: XYL) and Global Water Intelligence (GWI). Watering the New Economy: Managing the Impacts of the AI Revolution provides the most comprehensive assessment to date of how AI is reshaping global water use. It also highlights practical ways to meet that demand while strengthening water security for communities. Spending on AI is forecast to approach $2 trillion in 2026,1 accelerating infrastructure build-out worldwide. By the middle of the century, this expansion is projected to add 30 trillion liters of water demand, annually, fueled by a surge in power generation (~54% of the increase), semiconductor fabrication (~42%), and data center expansion (~4%). Crucially, the report finds that this additional demand does not have to result in competition between industry and communities. Today, global water systems proces
Primient to Acquire Full Ownership of Primient Covation, LLC14.1.2026 17:00:00 EET | Press release
Primient, a global leader in biomanufacturing, announced today it has agreed to purchase the remaining ownership interest in Primient Covation, LLC (“Primient Covation”), establishing Primient as the sole owner of the company and marking an exciting new chapter in Primient’s growth in the bioeconomy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260114344080/en/ This acquisition is the next step of Primient’s strategy to strengthen Primient’s leadership position in biomanufacturing and builds upon recent announcements, including Primient’s partnership with Sustainea and the creation of the iPROOF venture. Primient Covation stands as a leading force in the U.S. biomanufacturing sector, distinguished by its broad range of biomanufacturing and fermentation expertise. The company was founded in 2000 to supply a variety of end markets, including cosmetics and personal care, textiles, fashion, coatings, functional fluids, and oth
ACCELQ Crowned Leader and Customer Favorite in The Forrester Wave™ for Autonomous Testing Platforms14.1.2026 17:00:00 EET | Press release
Forrester has named ACCELQ a Leader in The Forrester Wave™: Autonomous Testing Platforms, Q4 2025. This marks the third consecutive Wave in which ACCELQ has been recognized as a Leader. Notably, this evaluation placed strong emphasis on generative AI innovation and real-world customer adoption. ACCELQ received the highest scores for both capabilities and vision and was the only platform to be recognized as a Customer Favorite, earning a "double halo" for exceptional customer endorsement. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260113112861/en/ ACCELQ recognized as a Leader and Customer Favorite in The Forrester Wave™️: Autonomous Testing Platforms, Q4 2025, validating its agentic, GenAI-embedded testing vision. According to the Forrester report, ACCELQ received the highest score among all evaluated vendors in the Current Offering category. Analysts praised the platform’s "impressive vision and innovation," specificall
Paysafe Research: First-Time and Casual Betting to Surge for 2026 World Cup14.1.2026 16:10:00 EET | Press release
19% of global consumers with an interest in following this summer’s 2026 World Cup plan to place their first ever online bet during the soccer tournament, according to research issued today by leading payments platform Paysafe (NYSE: PSFE). The company’s All the Ways Players Pay: World Cup 2026 report also indicates that brand reputation and offering flexible, reliable payments will be crucial for online sportsbooks when converting and retaining new and experienced bettors alike. With the World Cup returning to North America for the first time since 1994, there is strong appetite for online wagering in the host countries of the U.S., Mexico, and Canada as well as in Europe and Latin America, with 60% of global fans planning to bet. Across U.S. states where sports betting is legal, 62% intend to wager, with 29% placing their first ever bet. The surge is expected to be even stronger in Mexico, with 68% planning to wager, including 26% for the first time. And even in Canada, 46% of Ontari
Joint Cross-industry Statement: Cement Industry Co-Processing Should Be More Widely Adopted for Global Sustainable Waste Management14.1.2026 16:00:00 EET | Press release
Leading industry organisations today issued a joint statement highlighting the substantial and positive contribution the cement industry can make to addressing the urgent global challenge of non-recyclable and non-reusable waste. The Global Cement and Concrete Association – GCCA; European Composites Industry Association (EuCIA); International Solid Waste Association – Africa; Mission Possible Partnership; and The Global Waste-to-Energy Research and Technology Council – WtERT® are calling for stronger policy support to unlock the full potential of cement industry co-processing as a safe, effective and sustainable global waste management solution. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260114232332/en/ Co-processing enables both energy recovery and material recycling. It uses waste to replace fossil fuels in heating cement kilns, while any remaining ashes are simultaneously recycled into the building material compound
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