By Denver Business Journal

MarkWest Energy Partners LP said Tuesday it is buying a natural gas processing complex in Langley, Ky., from EQT Corp. for $230 million.

The deal is expected to close during this year's first quarter, Denver-based MarkWest (NYSE: MWE) said.

"We are very excited to further expand our relationship with EQT through the execution of this significant transaction,⿝ Frank Semple, chairman, president and CEO of MarkWest, said in a statement.

The Langley processing complex includes a 100 million cubic feet per day (MMcfd) cryogenic processing plant, a 75 MMcfd refrigeration processing plant, and about 28,000 horsepower of compression, MarkWest said.

The purchase also includes a natural gas liquids (NGL) pipeline connected to the Kentucky plant.

"Immediately following the closing of the acquisition, MarkWest will commence the installation of a new 60 MMcfd cryogenic processing plant to expand the Langley cryogenic processing capacity," the company's statement said.

It said that EQT "will execute a long-term agreement with MarkWest to provide processing services for its Kentucky Huron/Berea shale gas and to extend its existing agreement with MarkWest for NGL transportation, fractionation, and marketing services until 2022."

"MarkWest will also complete the Ranger NGL pipeline, which is currently under construction, to allow NGLs recovered at the Langley processing complex to be delivered to MarkWestâ¿¿s Siloam fractionation, storage, and marketing complex in South Shore, Kentucky," the company statement said. "In 2008, MarkWest significantly expanded the Siloam fractionator to a capacity of 24,000 barrels per day, in part to support the continued growth of EQTâ¿¿s Huron/Berea shale development in Kentucky and West Virginia. MarkWest will also process EQTâ¿¿s liquids-rich Marcellus gas in West Virginia."

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