EQT’s $77 million purchase of Blackline Midstream gives the Appalachian producer direct control of New England’s largest bulk-propane storage network. Blackline operates 46 million gallons of propane storage across its Sea-3 terminals (arguably the best-named facilities in the business) in Newington, New Hampshire (pictured below) and Providence, Rhode Island. EQT already supplies about 60% of Blackline’s volumes, so the deal is less about entering a new business, than securing storage, rail and marine access for associated natural gas liquids.
Featured Articles
- Analyst Insight
Jones Act Waiver Supports PADD 1 Propane Balance
On August 1, France-flagged vessel Champagny, delivered 313.2 Mbbl (~10 Mb/d) of propane from Energy Transfer's Marcus Hook terminal in Pennsylvania to the Sea-3 terminal in Rhode Island (RI). This is the sixth movement of propane under the Jones Act waiver issued March 17, and recently extended on August 10. It is notably the first instance of propane moving within the lower-48 states under the waiver, as all shipments until then had been destined for Puerto Rico.
- Blog
TGIF: Thank Goodness It’s Flex — For Now, at Least, U.S. LPG, Ethane Exports Can’t Grow Without It
Over the past 18 months, Gulf Coast dock capacity capable of handling either LPG or ethane has grown significantly. It’s something relatively new called “flex capacity,” and it’s a darned good thing it’s online. Without it, both LPG and ethane export capacity would already be maxed out.
- Blog
Calling All NGLs – Permian’s ‘Wellhead-to-Water’ Midstreamers Dominate NGL-Related Development
There’s an interesting aspect to the buildout of new Permian gas processing capacity, NGL pipelines, fractionators and NGL export terminals, namely that virtually all of the projects are being undertaken by midstream companies that handle NGLs along their entire value chain, from wellhead to water.
