Enterprise Products Partners has purchased a 37.35% interest in Wilprise Pipeline Co and a 16.67% interest in Tri-States NGL Pipeline after exercising its right of first refusal following Williams’ efforts to sell the interests to Sunoco Logistics Partners in August.
The agreement with Enterprise also contains an earn-out provision that allows Williams to potentially receive up to an additional $8.3 million (å£4.88 million) based on transportation volumes for Wilprise and Tri-States up until 2006. As well as this sale, Williams has divested interests in four NGL pipeline systems this year.