October 4, 2017 / 8:27 PM / in 2 months

BRIEF-Targa Resources announces creation of joint venture in Grand Prix Pipeline with Blackstone Energy Partners

Oct 4 (Reuters) - Targa Resources Corp

* Targa Resources announces creation of a joint venture in grand prix pipeline with blackstone energy partners and long-term volume commitment from eagleclaw midstream

* Targa Resources - to sell a 25% jv interest in its previously announced grand prix ngl pipeline to funds managed by blackstone energy partners​

* Targa Resources - ‍once completed, grand prix will be a new 300 thousand barrel per day common carrier ngl pipeline from permian basin to mont belvieu

* Targa Resources Corp - ‍Targa is expected to realize substantial net capital savings through sale of 25 percent interest in Grand Prix to Blackstone​

* Targa Resources Corp - continues to expect Grand Prix to be operational in Q2 of 2019 Source text for Eikon: Further company coverage:

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