Enbridge completed the acquisition of Moda Ingleside Energy Center from EnCap Flatrock Midstream-backed Moda Midstream for $3bn.

Enbridge, a multinational pipeline company, completed the acquisition of Moda Ingleside Energy Center, a crude export terminal, from EnCap Flatrock Midstream-backed Moda Midstream, a liquids terminaling and logistics company, for $3bn. "MIEC is a flagship asset. We are very proud of the safe and responsible growth we have achieved since we purchased the asset less than three years ago. The site was originally designed by the US Navy to support a carrier battle group and, despite the uncertainty following its closure, has developed into the nation’s largest exporter of crude oil, creating jobs and economic prosperity for the Coastal Bend. I want to congratulate everyone on the Moda team for their excellent work and many accomplishments. We are all excited to watch and support MIEC’s continued development and operational excellence under the ownership of a world-class company like Enbridge," Bo McCall, Moda Midstream President, CEO and Founder.