Gulf Coast Midstream Partners, LLC (“GCMP”), a private developer of energy midstream assets, today announced a growth capital investment and equity commitment from Black Bay Partners (“Black Bay”) to advance the development of the Nash Energy Storage Hub (the “Nash Energy Storage Hub”, formerly known as the Freeport Energy Storage Hub), a permitted natural gas storage and transportation development project located on the Nash Salt Dome in Fort Bend County, Texas (~30 miles southwest of Houston, TX). The investment proceeds will be used to advance Phase I of the Nash Energy Storage Hub to final investment decision (“FID”). GCMP is led by Edmund Knolle (CEO), Hugo Guerrero (COO), Tyler Buckingham (CFO), Mike McCall (VP of Subsurface), and Kevin Cochran (VP of Land).

The Nash Energy Storage Hub is strategically located near more than 15 major inter- and intrastate natural gas pipelines serving LNG, power & utility, midstream, upstream oil & gas, and industrial assets across Texas, Louisiana and the broader Gulf Coast region. In July 2025, GCMP received approval from the Texas Railroad Commission (under Statewide Rules 95 and 97) for Phase I of the Nash Energy Storage Hub, which permits the development of two (2) storage caverns with a combined working natural gas storage capacity of approximately 23 billion cubic feet (Bcf). Phase I will provide high-turn natural gas injection and withdrawal capacity of approximately 0.9 bcf/d and 1.5 bcf/d, respectively, and will also include a large diameter header system with initially seven (7) to ten (10) bi-directional interconnects with inter- and intrastate pipelines, providing customers with firm and interruptible natural gas storage, balancing, wheeling, and transportation services. Contingent on market demand and further governmental approvals, GCMP anticipates expanding the Nash Energy Storage Hub in subsequent phases through the development of up to four additional salt caverns for natural gas or natural gas liquids storage.

GCMP plans to hold a non-binding open season for firm natural gas storage during Q3/Q4 of this year. With pre-FID funding now secured, GCMP is targeting Phase I FID in Q1 2027 with an initial in-service date of mid-2030.

Edmund Knolle, Chief Executive Officer of GCMP, commented, “We are thrilled to be partnering with the Black Bay team on this opportunity. With Black Bay’s support, we’ve assembled a highly experienced management team to advance the Nash Energy Storage Hub to FID. Our asset is strategically located to serve key natural gas stakeholders across the LNG, power & utilities, midstream, upstream, and industrials sectors. We look forward to providing tailored natural gas storage and transportation solutions to meet the evolving needs of our customers.”

“Black Bay is thrilled to partner with the GCMP team in developing, commercializing, and operating this world-class natural gas storage asset. The GCMP team is led by professionals with deep industry experience in natural gas storage and infrastructure, bringing a unique level of operational and commercial expertise to this project,” said Michael LeBourgeois, Managing Partner at Black Bay. “The gap between current natural gas storage capacity and projected future storage needs represents an attractive market dynamic, and the Nash Energy Storage Hub sits at the center of that opportunity,” said John Lancaster, Partner at Black Bay. Sam Scofield, Principal at Black Bay, added, “The call on U.S. natural gas increases the need for more market flexibility, via gas storage, to manage rising gas demand and growing volatility.”

Troutman Pepper Locke LLP served as legal advisor to GCMP. Kirkland & Ellis served as legal advisor to Black Bay.

About Gulf Coast Midstream Partners

Gulf Coast Midstream Partners, LLC is a private developer of energy midstream assets led by a team of industry veterans with deep expertise in developing and operating natural gas storage and transportation assets across the United States. GCMP is the developer of the Nash Energy Storage Hub, a permitted development project in Southeast Texas, strategically located to provide high-demand storage, balancing, wheeling and transportation services to the growing LNG, power generation, utilities, midstream and upstream oil & gas, and industrial markets. GCMP is based in Houston, Texas.

About Black Bay

Black Bay Partners is a private equity firm focused on investing in innovative, high-growth businesses within the energy industry and related industrial and chemicals sectors. Black Bay has raised over $850 million in cumulative capital commitments across three institutional funds and has offices in New Orleans and New York City. For more information, please visit www.blackbaypartners.com.

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