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. On December 29, 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 on November 15, 2005.
A third interstate natural gas pipeline company, Gulf Crossing Pipeline
Company LLC, went into service in 2009. Boardwalk Field Services, LLC, which
was formed to develop and operate gas gathering, compression, dehydration,
treating, and processing infrastructure, announced its first project in October
2011. Boardwalk acquired the Petal and Hattiesburg natural gas storage
companies and formed Boardwalk HP Storage Company, LLC in December 2011.
In October 2012, Boardwalk acquired Boardwalk Louisiana Midstream, LLC
(formerly PL Midstream, LLC), which expanded Boardwalk’s operations into the
natural gas liquids business.
Boardwalk’s common units are traded under the symbol “BWP” on the New
York Stock Exchange (NYSE).