Enterprise and Energy TransferTerminate Proposed Joint Venture

abarrelfullabarrelfull wrote on 21 Aug 2011 06:12
Tags: energy-transfer enterprise pipeline usa

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Enterprise Products Partners L.P. (NYSE: EPD) today announced it will not be moving forward with a proposed joint venture with Energy Transfer Partners L.P. to develop and construct a 584-mile crude oil pipeline from Cushing, Oklahoma to Houston.

While the recently completed binding open commitment period generated significant shipper interest, agreements with the capacity and terms necessary to commercially support the project as planned were not sufficient. Enterprise remains committed to developing a crude oil pipeline from Cushing to the Gulf Coast and will continue to work with potential shippers to secure additional support for the project.

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