Energy Transfer Commences Open Season Period for the Eastern Gulf Crude Access Pipeline

abarrelfull wrote on 07 Jun 2013 12:01
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Energy Transfer Partners, L.P. (NYSE: ETP) and Energy Transfer Equity, L.P. (NYSE: ETE), collectively “Energy Transfer,” commenced today a binding open season for crude oil transportation service on the previously announced pipeline project from the crude oil terminalling hub near Patoka, Illinois (Patoka Hub) to the Eastern Gulf Coast refinery market.

Subject to the outcome of the binding open season and all necessary regulatory authorizations, the Eastern Gulf Crude Access Project (EGCAP), as the pipeline project has been renamed, will be capable of transporting up to 420,000 Bbls/d of crude oil from the Patoka Hub directly to refinery markets along the Mississippi River and the Louisiana Gulf Coast, including to the crude oil terminalling hub in St. James, Louisiana (St. James Hub). Conditioned upon authorization by the Federal Energy Regulatory Commission, Energy Transfer also plans to be able to mitigate construction and environmental impacts of EGCAP by redeploying approximately 575 miles of underutilized pipeline that is currently part of the natural gas pipeline system of Trunkline Gas Company, LLC, in lieu of new pipeline construction, providing a more environmentally sound and cost-effective solution for crude oil transportation to the Eastern Gulf Coast.

During the binding open season for EGCAP, which commences June 5, 2013, and continues until 5:00 p.m. (CT) on July 19, 2013, interested parties will have the opportunity to execute a firm agreement for crude oil transportation service on EGCAP. Additional information about EGCAP and the associated open season can be found at the following link on Energy Transfer’s website: www.energytransfer.com/ops_egca.aspx.

Contemporaneously with the EGCAP open season, Enbridge Pipelines (Illinois) L.L.C. will be holding a second open season for its Southern Access Expansion Pipeline Project (SAX Project). As previously announced on February 15, 2013, Enbridge Inc. and Energy Transfer entered into an agreement on the terms for the joint development of EGCAP. In the open season for the SAX Project, Enbridge Pipelines (Illinois) L.L.C. is soliciting subscriptions for crude oil transportation service to be received in Flanagan, Illinois, and delivered to EGCAP at the Patoka Hub. Additional information about the SAX Project and the associated open season can be found at the following link on Enbridge Inc.’s website: http://southernaccessextension.enbridgeus.com

• [ Energy Transfer Commences Open Season Period for the Eastern Gulf Crude Access Pipeline]

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