Pursuant to the memorandum of understanding (MoU), Enterprise and Quicksilver Gas Services would acquire up to an aggregate 50% ownership in the proposed Pathfinder Pipeline project and commit to ship a total of 500 million cubic feet per day (mmcf/d) for a 10-year term, on the Pathfinder Pipeline, subject to the execution of definitive agreements.
Enterprise and Quicksilver Gas Services would own up to 40% and 10%, respectively, of the Pathfinder Pipeline. Enterprise and Quicksilver Gas Services anticipate forming a new entity which will contract for the 500mmcf/d shipping position. Enterprise will own 80% of this new entity and Quicksilver Gas Services will own the remaining 20%.
Upon execution of Enterprise’s and Quicksilver Gas Services’s option to acquire ownership, TransCanada’s ownership in Pathfinder would be reduced from 100%. TransCanada will continue to be responsible for developing, constructing and operating Pathfinder.
