EnLink Midstream has agreed to pay $235 million to acquire 1,400 miles of Gulf Coast natural gas pipeline assets from Chevron Corp. affiliates, as well as ownership and management of the title tracking services offered at Henry Hub.

Henry, the delivery location of the New York Mercantile Exchange natural gas futures contracts, is connected to 13 major interstate and intrastate gas pipeline and storage systems.

The gas pipeline assets to be purchased by the EnLink midstream master limited partnership stretch from Beaumont, TX, to the Mississippi River corridor and include 11 Bcf of working gas storage capacity in Southern Louisiana. Combined with EnLink’s existing Louisiana assets, the Chevron assets would provide the partnership with optionality to serve a growing industrial, refining and petrochemical complex.

“The assets will support our growth strategy by expanding our franchise position in Southern Louisiana, a dynamic and growing market we know well,” EnLink CEO Barry E. Davis said. “These high-quality assets will complement our existing business and provide us with opportunities to serve a wider range of customers with an expanded range of services.”

Pipeline systems included in the purchase are:

Also included in the purchase are three storage caverns in Southern Louisiana with a combined working capacity of 11 Bcf, including two near Sorrento, LA with a capacity of 4 Bcf and one inactive cavern near Napoleonville, LA with 7 Bcf of capacity. The transaction is expected to be completed by the end of the year.

EnLink was formed in 2013 by Devon Energy Corp. by combining all of its U.S. midstream properties and Crosstex Energy LP (see Daily GPI, Feb. 19). EnLink Midstream Partners LP and general partner EnLink Midstream LLC hold midstream properties across the U.S. onshore, with around 7,400 miles of gathering and transportation pipelines, 13 processing plants with 3.4 Bcf/d of net processing capacity, seven fractionators with 252,000 b/d of net fractionation capacity, as well as barge and rail terminals, product storage facilities, brine disposal wells, an extensive crude oil trucking fleet and equity investments in certain private midstream companies.