Phillips 66 is selling DCP GCX Pipeline LLC, which owns a 25% non-operated equity interest in Gulf Coast Express Pipeline LLC, to an affiliate of ArcLight Capital Partners. DCP GCX Pipeline is a subsidiary of DCP Midstream, which was acquired by Phillips 66 in 2023 (see Phillips 66 To Close Acquisition Of DCP Midstream In Q2 2023). The sale is expected to close in January 2025. Following the transaction, Gulf Coast Express Pipeline LLC will be jointly owned by subsidiaries of Kinder Morgan and affiliates of ArcLight Capital Partners.
The Gulf Coast Express Pipeline is a 500-mile (804-km) pipeline system that transports 2 Bcf/d (56.6 x 106 m3/d) of natural gas from the Permian Basin to the Agua Dulce, Texas, area. It has 214,280 hp (159,853 kW) of installed compression.
