Sunoco Logistics Partners L.P. Announces Binding Open Season For Permian Express Phase I

abarrelfullabarrelfull wrote on 26 Jun 2012 06:13
Tags: n-america pipeline sunoco usa

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Sunoco Logistics Partners L.P. (NYSE: SXL) announced today that Sunoco Pipeline L.P. will commence a binding Open Season for project Permian Express Phase I. The project is being developed to deliver 150,000 barrels per day of West Texas crude oil to Gulf Coast markets, providing West Texas producers and Gulf Coast refiners with a fast, flexible and cost-efficient supply solution for Permian Basin crude.

For Permian Express Phase I, Sunoco Logistics will reverse its Wortham-to-Wichita Falls pipeline and utilize excess capacity on the southern leg of the West Texas Gulf pipeline system to create continuous pipeline service from Wichita Falls, Texas to Nederland/Beaumont, Texas markets. At Wichita Falls, a connection to Basin Pipeline will be provided. Due to the use of existing assets, an initial capacity to transport approximately 90,000 barrels per day to Nederland will be operational within 6 to 9 months. Full capacity of 150,000 barrels per day is expected by the second half of 2013.

The Open Season will commence on June 25, 2012 and will end on July 24, 2012. Subject to the terms of the Open Season, priority service will be available to shippers making long-term volume commitments during the Open Season. In addition, to offer customers flexibility, commitment terms of three, five or seven years will be available.

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