Equitrans Midstream and Morgan Stanley completed the acquisition of gas pipeline assets for $1.03bn.

Equitrans Midstream Corporation and EQM Midstream Partners, together with a fund managed by Morgan Stanley Infrastructure Partners completed the acquisition of a 60% interest in Eureka Midstream Holdings and a 100% interest in Hornet Midstream Holdings for total consideration of $1.03bn comprised of approximately $860m in cash and approximately $170m of assumed pro-rata debt. “These assets will complement EQM’s basin-leading gathering and transmission system, allowing us to continue being the low-cost provider for gas transportation and, increasingly, for water handling as well. As we continue to implement our plan, we are committed to maintaining our strong balance sheet and to delivering shareholder value.” Thomas F. Karam, EQM CEO.