Third Coast Midstream, an affiliate of ArcLight Capital Partners, has sold a 50 percent interest in its subsidiary, Lighthouse Super Holdings. The buyer was an affiliate of an undisclosed global infrastructure investment vehicle.
Lighthouse owns Third Coast’s existing offshore-focused midstream assets and a 50 percent interest in King’s Quay Infrastructure, which owns a new floating production system to be deployed in the deepwater Gulf of Mexico.
“We are pleased to have a new partner to support our premier Gulf of Mexico infrastructure platform that provides critical flow assurance services to low-cost, low-GHG-intensity deepwater production,” said Matthew Rowland, president and CEO of Third Coast. “This new partnership positions Third Coast to build off our solid, fee-based foundation and execute our disciplined growth agenda.”