Oil, Gas and Consumable Fuels
Company Overview of Texas Gas Transmission, LLC
Texas Gas Transmission, LLC operates a long-haul interstate natural gas pipeline that moves natural gas from Gulf Coast and Fayetteville Shale supply areas to on-system markets in the Midwest and off-system markets in the Northeast via interconnections with third-party pipelines. The company’s pipeline originates in the Louisiana Gulf Coast area and in East Texas and runs north and east through Louisiana, Arkansas, Mississippi, Tennessee, Kentucky, and Indiana, as well as into Ohio with smaller diameter lines extending into Illinois. Its services include no-notice transportation, small general transportation, summer no-notice transportation, firm transportation, short term firm transportatio...
610 West 2nd Street
Owensboro, KY 42301
Founded in 1945
Key Executives for Texas Gas Transmission, LLC
Chief Financial Officer, Principal Accounting Officer, Vice President and Director
Compensation as of Fiscal Year 2015.
Texas Gas Transmission, LLC Key Developments
Texas Gas Transmission, LLC Receives a Certificate from FERC to Build Natural Gas Lateral
Jan 22 16
Texas Gas Transmission, LLC received a certificate to build a natural gas lateral that will serve a Tennessee Valley Authority (TVA) electric generation plant in Kentucky. In an order issued as part of the FERC monthly meeting on Jan. 21, FERC granted Texas Gas, the requested authorization, with certain business, construction and mitigation measures attached as conditions. TVA will put in place new facilities that use gas as fuel to produce electricity at its Paradise plant. Construction has started, and the generating facilities are supposed to be in commercial operation in June 2017. Texas Gas and TVA executed a binding 20-year precedent agreement for 230,000 Dth/d of firm gas transportation service on the proposed project, the Western Kentucky lateral. TVA chose to pay a negotiated rate for firm transportation service on the lateral. Texas Gas also proposed incremental recourse rates for firm and interruptible transportation service on the lateral. Texas Gas estimated the project will cost about $81 million. Texas Gas will construct an approximately 22.5-mile, 24-inch-diameter gas lateral that will extend from its Midland 3 compressor station to an interconnection with the Paradise plant. At the interconnection, Texas Gas will build a meter and a regulator station, as well as auxiliary facilities. All of the project facilities will be in Muhlenberg County, Ky.
FERC Approves Texas Gas Transmission, LLC to Begin Work on Bidirectional Ohio-La. Gas Project
Sep 2 15
FERC gave Texas Gas Transmission permission to begin building a new compressor station to allow for bidirectional flow to serve customers requesting to move Marcellus and Utica shale gas into Midwestern and Southern markets. FERC gave Texas Gas Transmission LLC permission to begin building and operating a new compressor station to allow for bidirectional flow to serve customers requesting to move Marcellus and Utica shale gas into Midwestern and Southern markets. The FERC order authorizing the Ohio-Louisiana Access Project was issued Aug. 28 to Texas Gas. Ultimately, the project will enable Texas Gas to provide up to 758,000 MMBtu/d of firm transportation service from Lebanon, Ohio, to new markets in the Midwest and South in a north-to-south direction while maintaining its current south-to-north direction of flow. The project includes the construction and operation of the new Bosco compressor station in Ouachita Parish, La., which would deliver about 175,000 MMBtu/d; modifications to the connecting pipeline between Texas Gas and Gulf South Pipeline Co. LP at the proposed compressor station to allow for bidirectional flow and certain yard and station modifications to allow for bidirectional flow at compressor stations in Indiana and Louisiana. The new Bosco compressor station will include one 10,915-horsepower Solar Taurus 70 turbine compressor unit and necessary piping. Texas Gas maintains that the new station will not be a mainline unit. Texas Gas has entered into binding precedent agreements to provide firm transportation service with Sabine Pass Liquefaction LLC and six additional customers, resulting in a total subscription of 626,000 MMBtu/d of firm transportation service.
Boardwalk Pipeline Partners, LP, Boardwalk Pipelines, LP, Texas Gas Transmission, LLC, Gulf South Pipeline Company, LP and Gulf Crossing Pipeline Company LLC Announces Amendments to Third Amended and Restated Revolving Credit Agreement
May 26 15
Boardwalk Pipeline Partners, LP and certain of its wholly-owned subsidiaries entered into a Third Amended and Restated Revolving Credit Agreement among the Partnership, as guarantor, Boardwalk Pipelines, LP, Texas Gas Transmission, LLC, Gulf South Pipeline Company, LP and Gulf Crossing Pipeline Company LLC, as borrowers (the "Borrowers"), and the several lenders and issuers party thereto, Wells Fargo Bank, N.A., as administrative agent, Citibank, N.A. and JPMorgan Chase Bank, N.A., as co-syndication agents and the other agents identified therein. Under the Amended Credit Agreement, the Lenders will provide the Borrowers certain revolving loans, swingline loans and letters of credit to be used for general partnership purposes, including repayment of indebtedness, acquisitions, capital expenditures and payment of distributions, in an aggregate amount of up to $1.5 billion. Each Borrower is subject to a separate sublimit for borrowings under this facility. The Partnership has guaranteed the obligations of the Borrowers under the Amended Credit Agreement. Maturity. The Amended Credit Agreement has a maturity date of May 26, 2020. Prepayments. The Borrowers are allowed to prepay all loans under the credit facility at any time without premium or penalty (other than customary breakage costs). Interest. Interest is determined, at the Partnership's election, by reference to the base rate which is the prime rate, the federal funds rate plus 0.50%, and the one month Eurodollar Rate plus 1.0%, plus an applicable margin, or the London Interbank Offered Rate plus an applicable margin. The applicable margin ranges from 0.00% to 0.75% per annum for loans bearing interest based on the base rate and ranges from 1.00% to 1.75% per annum for loans bearing interest based on the LIBOR Rate, in each case determined based on the individual Borrower's credit rating from time to time. The Amended Credit Agreement also provides for a quarterly commitment fee charged on the average daily unused amount of the revolving credit facility ranging from 0.1% to 0.275% per annum, determined based on the individual Borrower's credit rating from time to time. Conditions. The Borrowers' ability to borrow amounts under the revolving credit facility will be subject to the execution of customary documentation relating to the facility, including satisfaction of certain customary conditions precedent and compliance with terms and conditions included in the loan documents, including a post-closing obligation which requires the Partnership to repay its borrowings under its existing term loan of $175.0 million and terminate all related commitments.
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