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Energy Transfer Sells Stake In Troubled Rover Pipeline

01 Août 2017

In a letter sent to lawmakers on Monday, Warren said he was "baffled" by allegations that the Rover Pipeline, an Energy Transfer Partners project that would stretch from southwest Pennsylvania to MI, had violated federal regulations in constructing the pipeline. HoldCo owns 65 percent in Rover Pipeline LLC.

Warren said that such an investigation would be "both unprecedented and unnecessary".

In June, Rover Pipeline LLC, a subsidiary of Energy Transfer Partners, agreed to pay $1.5 million annually for five years to the Ohio History Connection Foundation to compensate for damages to historic properties while constructing the pipeline.

Following the completion of the transaction, Energy Transfer will own 50.1% stake in HoldCo, while Blackstone will hold 49.9% stake.

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The Rover Pipeline will be an ~700 mile pipeline created to transport 3.25B cf/day of natural gas from the Marcellus and Utica shale areas to markets across the U.S.as well as into Union Gas Dawn Hub in Ontario for redistribution back into the USA or into the Canadian market.

Last month, West Virginia environmental regulators ordered the project to cease and desist some land development activities in the state over violations of state environmental regulations, until it fully complies with all rules.

The Rover pipeline, however, has faced multiple hurdles along its construction path, as several states have ordered additional environmental scrutiny and some have ordered work be stopped in some areas. The two companies are constructing the Rover pipeline and will be the operator of the pipeline once in service, Energy Transfer said. Get your FREE trial to Buyouts!

Energy Transfer Sells Stake In Troubled Rover Pipeline