Trafigura and Haddington to Buy NGL’s Stake in Sawtooth Caverns

Trading house Trafigura Group said it is teaming with Haddington Ventures LLC to buy NGL Energy Partners LP’s 71.5% stake in the Sawtooth Caverns natural gas liquids storage facility for about $70 million.

Located near Delta, Utah, Sawtooth Caverns is the largest NGLs storage facility in the Western U.S. Trafigura and Haddington, an energy-focused private equity firm, will control the 7 million-barrel capacity deep-well salt caverns in a 50/50 joint venture, the companies said in a statement.

Trafigura Trading director Robert Kreider said that because the Western U.S. lacks comprehensive pipeline infrastructure, the Sawtooth Caverns’ strategic location near ...