Crestwood Equity Partners LP (NYSE: CEQP) (Crestwood Equity) and Crestwood Midstream Partners LP (NYSE: CMLP) said Dec. 4 that Crestwood Equity completed the sale of Tres Palacios Gas Storage LLC (Tres Palacios) to the newly formed joint venture between Crestwood Midstream and an affiliate of Brookfield Infrastructure Group (Brookfield Infrastructure).

The sale’s total cash consideration was $130 million. Crestwood Midstream will own 50.01% of Tres Palacios Holdings LLC (TPH LLC) and operate Tres Palacios and its assets, the company added.

As part of the transaction, Brookfield Infrastructure s entered into five-year, fixed-fee contracts with Tres Palacios for 15 billion cubic feet of firm storage capacity and 150,000 dekatherms per day of enhanced interruptible wheeling services, effective November 1, the company said.

“We are pleased to complete the sale of Tres Palacios to TPH LLC,” said Robert G. Phillips, chairman, president and CEO of Crestwood’s general partners.

“This transaction is an important step in establishing Crestwood Equity as a pure-play general partner MLP, and positions Tres Palacios with the much broader financial resources of Crestwood Midstream and Brookfield Infrastructure to capture expansion opportunities along the Texas Gulf Coast region. We look forward to working closely with Brookfield Infrastructure as a partner, which has a proven track record of developing energy assets throughout North America,” he added.

Crestwood Midstream funded its $65 million portion of the purchase price through its $1 billion revolving credit facility. Crestwood Equity used the cash to repay about $130 million of outstanding revolving credit facility borrowings.

Houston-based Crestwood Midstream Partners LP is a domestic-focused midstream MLP.