Faced with spill problems in construction, Energy Transfer Partners in Dallas is selling part of its controversial Rover Pipeline, the 700 mile line stretching across the U.S.
ETP is selling 49.9% to Blackstone Energy Partners and Blackstone Capital partners for $1.57 billion in ETP’s HoldCo. HoldCo. owns 65% interest in the Rover pipeline and upon completion of the lastest deal will retain 50.15 ownership.
The Rover pipeline is intended to move 3.25 billion cubic feet of natural gas a day from the Marcellus and Utica Shale production areas to markets across the U.S. and into Union gas Dawn Hub in Ontario, Canada.
But in recent months, there have been construction problems and spills of drilling mud resulting in orders from the Ohio Environmental Protection Agency and the Federal energy Regulatory Commission.