HISTORY

 

Gulf South Pipeline Company, LP

Gulf South was created in the 1930’s when five major groups, representing more than 40 power, fuel and utility companies, merged to form a holding company named the United Gas Corporation.  In 1937, the corporation was restructured and condensed into three basic divisions:  production, transmission and distribution.  The transmission division was christened United Gas Pipe Line Company. On January 19, 1940, United Gas Pipe Line became the first pipeline company to handle one billion cubic feet of natural gas in one day and on July 6, 1949, United Gas Corporation was listed on the New York Stock Exchange.   

 

Over the years, United Gas Pipeline was acquired by a number of companies: Pennzoil (1965), MidCon Corporation (1986), LaSalle Energy Corporation (1987) and Koch Industries, Inc. (1992). In August 1993, United Gas was renamed Koch Gateway Pipeline, and in 2001, Koch contributed Koch Gateway Pipeline to a joint venture with Entergy Corporation, re-christening the pipeline as Gulf South Pipeline Company. In December 2004, Loews Corporation purchased Gulf South Pipeline.

 

Boardwalk Pipeline Partners, LP 

  

Loews Corporation (NYSE: L) bought Texas Gas Transmission, LLC in May 2003 and Gulf South Pipeline Company, LP in December 2004. These two interstate natural gas pipeline companies were consolidated into a new entity – Boardwalk Pipeline Partners, LP – which went public in November 2005. Boardwalk placed into service a third interstate natural gas pipeline company, Gulf Crossing Pipeline Company LLC, in 2009. In December 2011, Boardwalk acquired the Petal and Hattiesburg natural gas storage companies, which were rolled into Gulf South on January 1, 2015.  In October 2012, Boardwalk acquired Boardwalk Louisiana Midstream, LLC (formerly PL Midstream, LLC), which diversified Boardwalk’s operations into the natural gas liquids and olefins businesses, serving petrochemical markets in southern Louisiana. Boardwalk Field Services, LLC was formed to develop and operate gas gathering, compression, dehydration, treating, and processing infrastructure, and in June 2013 placed its first major project into service. In October 2014 Boardwalk acquired Evangeline ethylene pipeline system, further expanding Boardwalk’s service offerings to petrochemical customers.  Boardwalk’s common units are traded under the symbol “BWP” on the New York Stock Exchange (NYSE).