Energy Transfer Commences Open Season Period for the Eastern Gulf Crude Access Pipeline
DALLAS--(BUSINESS WIRE)-- Energy Transfer Partners, L.P. (NYS: ETP) and Energy Transfer Equity, L.P. (NYS: 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.
More information about the EGCAP open season is available by contacting:
|Damon Daniels||Chad Choate|
|Energy Transfer Partners, L.P.||Energy Transfer Partners, L.P.|
|(713) 989-7920||(214) 981-0741|
Energy Transfer Partners, L.P.
Energy Transfer Equity, L.P. (NYS: ETE) is a master limited partnership which owns the general partner and 100% of the incentive distribution rights (IDRs) of Energy Transfer Partners, L.P. (NYS: ETP) and approximately 99.7 million ETP common units; and owns the general partner and 100% of the IDRs of Regency Energy Partners LP (NYS: RGP) and approximately 26.3 million RGP common units. The Energy Transfer family of companies owns more than 71,000 miles of natural gas, natural gas liquids, refined products, and crude pipelines. For more information, visit the Energy Transfer Equity, L.P. website at www.energytransfer.com.
The information contained in this press release is available on our website at www.energytransfer.com.
Statements about the offering may be forward-looking statements as defined under federal law. Forward-looking statements can be identified by words such as "anticipates," "believes," "expects," "estimates," "forecasts," "projects," "should" and other similar expressions. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of ETP and ETE, and a variety of risks that could cause results to differ materially from those expected by management of ETP and ETE. Important information about issues that could cause actual results to differ materially from those expected by management of ETP and ETE can be found in ETP's and ETE's public periodic filings with the Securities and Exchange Commission, including their Annual Reports on Form 10-K. Neither ETP nor ETE undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.
Brent Ratliff, 214-981-0700
Granado Communications Group
Vicki Granado, 214-599-8785
KEYWORDS: United States North America Illinois Texas
The article Energy Transfer Commences Open Season Period for the Eastern Gulf Crude Access Pipeline originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.