?Regency Energy Partners LP, Dallas, (Nasdaq: RGNC), New York-based independent investment firm Alinda Capital Partners LLC and an affiliate of GE Energy Financial Services, a unit of GE Corp., Stamford, Conn., (NYSE: GE) announced a joint venture to finance and build Regency’s Haynesville expansion project, a Louisiana pipeline that will transport gas from the Haynes­ville shale.
Shippers have already committed for 84% of the pipeline’s capacity. Initial capacity of 1.1 billion cu. ft. per day will more than double Regency’s pipeline system in northern Louisiana. This expansion is expected to be in service by year-end.
Regency will contribute its Regency Intrastate Gas System in northern Louisiana, valued at $400 million, in exchange for a 38% general partnership interest in the joint venture. GE Energy will contribute $126.5 million and Alinda Capital will contribute $526.5 million in return for a 12% and a 50% general partnership interest, respectively. The joint venture is expected to close April 30.

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