ePointZero acquires Traverse Midstream in USD 2.25 bn transaction

ePointZero is making its biggest move yet into the US energy market, closing a USD 2.25 bn acquisition of Traverse Midstream Partners, giving it minority stakes in two major US natural gas pipeline systems and marking its first investment in American gas infrastructure, according to a press release (pdf).

The allcash agreement gives ePointZero a 35% stake in the Rover Pipeline and a 25% stake in the Ohio River System, both operated by US midstream giant Energy Transfer. The assets sit in the Appalachian Basin, North America's largest natural gas-producing region, and connect production to key demand centers, including LNG export facilities, power plants, and industrial users.

BACKGROUND- This has been on the cards since March. ePointZero, the decarbonization arm of 2PointZero, first disclosed plans to acquire 100% of US-based Traverse Midstream Partners for around USD 2.3 bn, subject to regulatory approvals.