Five Point in talks to sell Northwind Midstream to MPLX for $2.3 billion, Bloomberg News reports

July 30 (Reuters) - Private equity firm Five Point Infrastructure is in talks to sell Northwind Midstream Partners for about $2.3 billion to U.S. midstream company MPLX MPLX.N, Bloomberg News reported on Wednesday, citing people familiar with the matter.

In May, Reuters had reported that Five Point is exploring a potential sale of the Permian Basin gas infrastructure operator, with any deal expected to value the company upwards of $2 billion, including debt.

The deal could be reached in the coming weeks but talks could still be delayed or falter, the Bloomberg report said.

Dealmaking in the pipeline sector has been picking up pace as companies look to cut costs, add scale or access attractive oil and gas producing regions.

In February, MPLX said it would buy the remaining 55% interest in the BANGL natural gas pipeline from the affiliates of WhiteWater and Diamondback Energy FANG.O for $715 million, as it looks to expand in the Permian Basin.

Five Point Infrastructure and Northwind Midstream Partners declined to comment. MPLX did not immediately respond to a Reuters request for comment.

Formed by Five Point in 2022, Northwind Midstream has developed a system of pipelines, compressor stations and a treatment facility in New Mexico.