ArcLight completed the acquisition of a 25% stake in the Gulf Coast Express Pipeline from Targa Resources for $857m.

ArcLight, a private equity firm focused on energy, completed the acquisition of a 25% stake in the Gulf Coast Express Pipeline, a natural gas pipeline system that transports gas, from Targa Resources, a growth-oriented provider of midstream services, for $857m. "ArcLight is pleased to acquire newly constructed, critical-path midstream infrastructure to assist continued energy transition efforts. We strongly believe that, alongside our operating partners, GCX will continue to help supply growing global gas demand by bringing responsibly-sourced Permian Basin natural gas production to key demand markets as we transition to a clean and secure energy future," Lucius Taylor, ArcLight Managing Director.