Commission receipt of application for proposed divestiture: The Commission has received an application for approval of proposed divestiture from Dan L. Duncan; EPCO, Inc.; Texas Eastern Products Pipeline Company, LLC; and TEPPCO Partners, L.P., concerning a recent FTC order related to the applicants’ natural gas liquids storage facilities in Mont Belvieu, Texas. Under the terms of the Commission decision and order, Duncan and other principals are required to divest their interests in Mont Belvieu Storage Partners, L.P. (MBSP) and sell certain pipelines, land, and other assets in and around Mont Belvieu. MBSP is a partnership between TE Products Pipeline Company, Limited Partnership (TE Products) and Louis Dreyfus Energy Services L.P. (Louis Dreyfus), and provides salt dome storage for natural gas liquids in Mont Belvieu.
Existing agreements between TE Products and Louis Dreyfus forming MBSP provide that TE Products must offer to sell its interests to Louis Dreyfus on the same terms proposed by any third party. Louis Dreyfus then has 30 days from the date of the TE Products’ offer to exercise this right of first refusal. Through this application, Duncan, et al. have requested FTC approval to divest TE Products’ interests in MBSP and sell the relevant pipelines, land, and other assets to Louis Dreyfus to satisfy the terms of the Commission’s order.
The FTC will be accepting public comments on the proposed divestiture for 30 days, until December 27, 2006, after which it will determine whether to approve it. Comments should be sent to Federal Trade Commission, Office of the Secretary, 600 Pennsylvania Ave., N.W., Washington, DC 20580. A copy of the public version of the parties’ application can be found as a link to this press release on the FTC’s Web site. (FTC Docket No. C-4173; the staff contact is Daniel P. Ducore, Bureau of Competition, 202-326-2526; see press releases dated August 18 and November 3, 2006.)
Copies of the documents mentioned in this release are available from the FTC’s Web site at http://www.ftc.gov and from the FTC’s Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, DC 20580. Call toll-free: 1-877-FTC-HELP.