Boardwalk Pipelines
| Company type | Master limited partnership |
|---|---|
| Industry | Midstream natural gas and natural gas liquids (NGLs) |
| Founded | 2005 |
| Headquarters | Houston , United States |
Area served | Gulf Coast, Oklahoma, Arkansas, Tennessee, Kentucky, Illinois, Indiana, Ohio, Louisiana, Texas |
| Owner | Boardwalk Pipelines Holding Corp. (subsidiary of Loews Corporation) |
| Parent | Loews Corporation |
Boardwalk Pipeline Partners, LP, which primarily operates through its subsidiary Boardwalk Pipelines, LP, is an energy enterprise headquartered in Houston, Texas. Functioning as a master limited partnership within the midstream natural gas and natural gas liquids (NGLs) industry, the company focuses on transportation and storage solutions. Boardwalk controls an extensive pipeline system and underground storage facilities capable of holding around 205 billion cubic feet (Bcf) of working natural gas, alongside significant NGL storage capacity. Its pipeline infrastructure extends geographically from the Gulf Coast, Oklahoma, and Arkansas to Midwestern states such as Tennessee, Kentucky, Illinois, Indiana, and Ohio. The company's NGL pipeline and storage assets are primarily situated in Louisiana and Texas.
The entirety of Boardwalk Pipeline Partners is owned by Boardwalk Pipelines Holding Corp., a fully owned subsidiary of Loews Corporation.
History
In May 2003, Loews Corporation (NYSE: L) acquired Texas Gas Transmission, LLC, followed by the purchase of Gulf South Pipeline Company, LP in December 2004. These holdings were merged to form Boardwalk Pipeline Partners, LP, which subsequently became publicly traded in 2005. The company initiated the Gulf Crossing Pipeline Company LLC in 2009 to broaden its operations.
Boardwalk grew its portfolio through several acquisitions: it obtained natural gas storage firms in Petal and Hattiesburg in 2011—later integrated into Gulf South in 2015—and acquired Boardwalk Louisiana Midstream, LLC in 2012, marking diversification into NGL services catering to petrochemical markets in southern Louisiana. The procurement of the Evangeline ethylene pipeline system in 2014 further expanded its petrochemical infrastructure. Additionally, Boardwalk Field Services, LLC enhanced the company’s gas gathering and processing capabilities with a processing plant that commenced operations in June 2013.
In 2018, Loews Corporation completed the privatization of Boardwalk by purchasing all remaining shares and removing it from the New York Stock Exchange.
A notable legal development occurred in 2021 when the Delaware Court of Chancery ruled favorably for former partners in the case Bandera Master Fund LP et al v Boardwalk Pipeline Partners LP et al, awarding damages totaling $690 million related to a buyout; this verdict is presently under appeal.