Commission approval of proposed divestiture: The FTC has granted approval for Enterprise Products Partners L.P. (Enterprise) and Dan L. Duncan to divest the Enterprise Propane Storage Interest in Hattiesburg, Mississippi, to Enbridge Midcoast Energy, L.P., a wholly owned subsidiary of Enbridge Energy Partners, L.P. (Enbridge). Pursuant to a September 2004 Commission consent order with Enterprise and Dan L. Duncan, arising out of Enterprise’s $13 billion merger with GulfTerra Energy Partners (GulfTerra), Enterprise and Duncan are required to divest these assets, subject to the FTC’s approval, by December 31, 2004. The order also requires Enterprise and Duncan to divest either Enterprise’s 51 percent interest in the Starfish Pipeline Company, LLC, or its 100 percent-owned natural gas pipeline in the Gulf of Mexico by March 31, 2005.
The Commission vote approving the divestiture of the Enterprise Propane Storage Interest to Enbridge was 5-0. (FTC File No. 041-0039, Docket No. C-4123; the staff contact is Frank Lipson, Bureau of Competition, 202-326-2617; see press release dated September 30, 2004.)
Copies of the documents mentioned in this release are available from the FTC’s Web site at http://www.ftc.gov and also from the FTC’s Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, DC 20580. Call toll-free: 1-877-FTC-HELP.