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Boardwalk Making Progress on $1B NatGas Growth Projects

More than $1 billion in growth projects under construction, including the Coastal Bend Header project, "are proceeding on time and on budget," according to Boardwalk Pipeline Partners LP CEO Stan Horton.

Construction of the 66-mile Coastal Bend Header, which would create expansion capacity to deliver natural gas to Freeport LNG Development LP's liquefied natural gas (LNG) export terminal near Freeport, TX, "is approximately 50% complete and construction of two of the four new compressor stations is underway," Horton said during a conference call with analysts Monday.

"Also underway is the expansion of the portion of our Gulf South transmission pipeline that will provide firm transportation service from our Perryville exchange to an interconnection with the Coastal Bend Header pipeline in Wharton County, TX."

The project is on scheduled to be placed into service next year, Horton said.

Boardwalk is also proceeding with its two Gulf South projects in Louisiana. The first would provide 133,000 MMbtu/d of firm transportation service and is expected to be placed in service in 2018, he said.

An application for the second project was recently filed at the Federal Regulatory Agency with a targeted in-service date in 2019. It would provide 200,000 MMBtu/d of firm transportation service.

Boardwalk’s capital spending for 2017 is expected to be about $850 million, of which $710 million would be for growth projects and $140 million would be for maintenance.

Boardwalk reported 2Q2017 earnings before interest, taxes, depreciation and amortization of $195 million, a $5 million (3%) increase from 2Q2016. 

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