MarkWest Pioneer LLC, a joint venture between MarkWest Energy Partners LP (MWE) and an affiliate of ArcLight Capital Partners LLC, announced that it notified affiliates of Kinder Morgan Energy Partners LP and Energy Transfer Partners LP that MarkWest Pioneer will not exercise its option to acquire a 10% equity interest in Midcontinent Express Pipeline LLC.
MarkWest believes the Midcontinent Express Pipeline is a critical component of the pipeline infrastructure that transports natural gas from newly developed areas in Texas and Oklahoma into high-demand markets in the Eastern U.S.
However, MarkWest is foregoing the option to acquire the equity interest in order to prioritize available capital for strategic growth projects in its core operating areas.
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