North American energy infrastructure company Enbridge has closed the acquisition of Moda Midstream Operating from Encap Flatrock Midstream for $3 billion.
The deal was originally announced in September 2021.
Enbridge now has a 100 percent operating interest in the former Moda Ingleside Energy Centre (MIEC), which is now the Enbridge Ingleside Energy Centre (EIEC).
The deal also included the 350,000 bbl Taft Terminal, the 300,000 bpd Viola pipeline, and a 20 percent interest in the 670,000 bpd Cactus II pipeline.
“The acquisition significantly advances the company’s US Gulf Coast export strategy and connectivity to low-cost and long-lived reserves in the Permian and Eagle Ford basins,” said Enbridge in a statement.
For more information visit www.enbridge.com