Prior to founding Trilogy Midstream in 2017, the Company’s founders worked together for 10 years, at NET Midstream, a privately held gas midstream and marketing company that was sold to NextEra Energy Partners for $2.1 Billion in 2015.
At the time of sale, NET Midstream operated seven natural gas pipelines in South Texas with a combined 3.0 Bcf/d of ship-or-pay contracts with a weighted average term of over 16 years and over 1 Bcf/d of available expansion capacity. The pipelines developed and operated by NET Midstream served utilities, municipalities, power plants, industrial loads and natural gas producers.
NET Mexico, the largest pipeline in the portfolio, is a 120-mile long 42” pipeline from Agua Dulce, Texas to the Rio Grande that delivers 2.1 Bcf/d of natural gas to Mexico under a 20-year transportation agreement with PEMEX. NET Mexico, the first large-diameter expansion into Mexico, was completed ahead of schedule and under-budget and served almost 1/3 of the country’s natural gas usage in 2015.