First Reserve has entered an agreement with Energy Corporation of America to form a joint venture for gas gathering projects.
First Reserve will provide an equity commitment of $100m from its energy infrastructure fund to the joint venture.
First Reserve will own a 50% interest in two newly constructed gathering systems in Greene and Clearfield counties of Pennsylvania, US, which service the Marcellus Shale.
The companies will explore the opportunity to develop new or expand existing gas gathering systems in the region to accelerate the production of additional hydrocarbons.
