The assets include more than 1,500 miles of pipeline infrastructure, which have a combined capacity of 575,000 barrels per day.

The company said the project is backed by a 10-year, primarily fixed-price power purchase agreement, with an option for its investment-grade customer to extend it.

The midstream firm said it would build a 216-mile pipeline named Trident Intrastate, carrying about 1.5 billion cubic feet of natural gas from Katy to the liquefied natural gas corridor near Port Arthur in Texas.