Citadel, a global investment firm, today announced that it has agreed to acquire a portfolio of natural gas pipeline transportation capacity through 2032 in the Western U.S. from WPX Energy. The acquisition is expected to close in the third quarter of 2016 and is subject to customary closing conditions and regulatory approvals.
Today’s announcement, which follows the successful launch of the firm’s physical natural gas business in 2014, underscores Citadel’s commitment to expanding its presence in the natural gas market.
“We see natural gas transportation as a foundation for the growth of our physical business and are excited to be expanding in this market,” said Mark Stainton, Head of Commodities at Citadel. “This transaction builds on our track-record of success in commodities and commitment to providing our investors with access to attractive opportunities in the energy space.”