Wednesday, December 5, 2012

Magellan and Occidental Petroleum proceed with BridgeTex Pipeline

The BridgeTex Pipeline will transport crude oil from Texas to the Houston Gulf Coast area
Magellan Midstream Partners and Occidental Petroleum are continuing with the development of the previously announced BridgeTex Pipeline in the US.

With access to refineries at the Houston Ship Channel, Texas City and others across the Gulf Coast via third party pipelines, the BridgeTex Pipeline will move up to 300,000 barrels a day of Permian Basin crude oil from Colorado City, Texas to the Houston Gulf Coast area.

The project includes the construction of 1.2 million barrels of crude oil storage at Colorado City and 1.4 million barrels at east Houston. Around 400 miles of 20" pipeline will be built, going from Colorado City to Magallen's terminal in east Houston, in addition to a further 50 miles of 24" pipeline between east Houston and Texas City.
The BridgeTex pipeline is expected to come online by mid-2014.

The pipeline project is supported by long-term transportable commitments and has received a favourable order from the Federal Agency Regulatory Commission approving the tariff structure for the pipeline.

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