Today, we announce exciting news – Phoenix Park Gas Processors Limited has completed its acquisition of a US entity. On February 3, 2020, PPGPL through its wholly owned US subsidiary, Phoenix Park Energy Marketing LLC, closed its acquisition of the NGL marketing assets of Twin Eagle Liquids Marketing LLC. Twin Eagle Liquids Marketing LLC is a company based in Houston, Texas, USA and is engaged in the business of marketing, trading and transportation of natural gas liquids in Canada, USA and Mexico via rail.
This latest development is aligned to PPGPL’s strategy to grow the business internationally along the energy value chain. It is in fact one of the company’s major steps towards realizing the shared Group vision, “to be a recognized global leader in the development of energy related businesses.” Over the past three years PPGPL has taken very deliberate steps to realize this vision, including expanding its revenue streams to include condensate processing and physical product trading. With this acquisition, PPGPL has now added a new source of revenue to its existing portfolio thereby further diversifying its business and providing a focal point for an expansion thrust in the North American natural gas market.