Commission Approves Application for Proposed Divestiture in Matter of Dan L. Duncan, et al.

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Commission approval of application for proposed divestiture: Following a public comment period, the Commission has approved an application for divestiture from Dan L. Duncan (Duncan); EPCO, Inc. (EPCO); Texas Eastern Products Pipeline Company, LLC; and TEPPCO Partners, L.P. (together TEPPCO), concerning a 2006 FTC order related to TEPPCO’s interest in the Mont Belvieu Storage Partners, L.P. (MBSP). Under the terms of the Commission decision and order, Duncan, EPCO, and TEPPCO are required to divest TEPPCO’s interest in MBSP and sell certain pipelines, land, and other assets owned by TEPPCO in and around Mont Belvieu. MBSP is a partnership between TEPPCO Partners, L.P. and Louis Dreyfus Energy Services, L.P. (Louis Dreyfus), and provides salt dome storage for natural gas liquids in Mont Belvieu.

Through its application, TEPPCO will divest its MBSP interest and its other pipelines and land to Louis Dreyfus to satisfy the terms of the Commission’s order. The FTC, by a vote of 4-0, with Commissioner J. Thomas Rosch recused, has now approved the proposed divestiture. (FTC Docket No. C-4173; the staff contact is Daniel P. Ducore, Bureau of Competition, 202-326-2526; see press releases dated August 18, November 3, and November 27, 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.

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