SK Corporation announced on the 28th that it will invest $150 million (KRW 170 billion) in Blue Racer Midstream, a U.S. G&P (Gathering & Processing) company. G&P is a service business that gathers gas produced at gas fields by transporting it through pipelines and processes it so that it can be sold to consumers.

An SK official stated, "The Blue Racer investment is a joint investment by First Reserve, an energy-focused private equity fund, after selecting SK Corp. as a strategic investor." Mirae Asset Daewoo and Samsung Securities will also invest an additional $150 million through their Stick Alternative Asset Management fund.

Blue Racer is a leading G&P company in the Marcellus-Utica Basin in Ohio and West Virginia, the largest natural gas producing region in North America. It operates a 1,100-kilometer pipeline and facilities capable of processing 7.3 million tons of natural gas annually. It also operates a component separation facility with an annual processing capacity of 4.2 million tons.

SK Corporation is actively investing in the G&P sector, including investments in Eureka, a G&P company in the Marcellus-Utica Basin, and Brazos, a G&P company in the Permian Basin, the largest crude oil producing region in North America.

 

Source: Chosun Biz