After announcing two acquisitions last week, Houston-based Momentum Midstream has all the tools and financial commitments in place to break dirt on its latest project in the Haynesville. Reese Energy Consulting today is following the latest news from Momentum, which has acquired Midcoast Energy’s pipeline assets in East Texas for $1.3 billion and Align Midstream’s gathering, processing, and treating assets also in East Texas for an undisclosed sum. With new bones in place to deliver more Haynesville gas to Gulf Coast markets and LNG export plants, Momentum is now in full gallop to develop its New Generation Gas Gathering project, or NG3, slated for completion in 2024.
NG3 will include 275 miles of additional gas gathering pipe, 2.2 BCFD of capacity, and a carbon capture and sequestration capability that will eliminate 100% of the CO2 and permanently store it underground. Anchor shipper Chesapeake has committed volumes while Momentum has dangled a carrot their way in the form of a 35% ownership stake that would create a dynamic duo in the Haynesville. Speaking of which, Momentum operates 3,800 miles of gas pipelines, 200 miles of NGLs pipelines, seven processing plants, and more than 2.1 BCFD of treating capacity.