Valero Announces Its Central Texas Pipeline and Terminal Projects
September 06 2017 - 9:04AM
V-Tex Logistics, LLC, an indirect wholly owned subsidiary of Valero
Energy Corporation (NYSE:VLO) (“Valero”), announced today that it
has signed an agreement with Magellan Pipeline Company, L.P., an
indirect wholly owned subsidiary of Magellan Midstream Partners,
L.P. (NYSE:MMP) (“Magellan”) to jointly build an approximately
135-mile, 16-inch products pipeline from Houston to Hearne, Texas.
In addition, Valero will separately build a terminal in
Hearne, a terminal in Williamson County, Texas, and an
approximately 70-mile, 12-inch pipeline connecting the two
terminals. Valero’s expected cost for the projects is $380
million with targeted completion in mid-2019. Construction of these
pipelines and terminals will provide a reliable fuel supply
alternative for the fast-growing Central Texas marketplace. The new
pipelines and terminals are expected to supply up to 60,000 barrels
per day into Williamson County.
“These projects support our long-term strategy
of expanding and extending our supply chain through organic growth
projects,” said Joe Gorder, Valero Chairman, President and Chief
Executive Officer. “We are very pleased to participate in the
Magellan South Pipeline Expansion project. Valero and Magellan have
had a long and successful working relationship and the Houston to
Hearne pipeline project will build on that history.”
About Valero Valero Energy
Corporation, through its subsidiaries, is an international
manufacturer and marketer of transportation fuels and other
petrochemical products. Valero, a Fortune 50 company based in
San Antonio, Texas, with approximately 10,000 employees, is an
independent petroleum refiner and ethanol producer, and its assets
include 15 petroleum refineries with a combined throughput
capacity of approximately 3.1 million barrels per day and
11 ethanol plants with a combined production capacity of
1.4 billion gallons per year. The petroleum refineries
are located in the United States (U.S.), Canada and the United
Kingdom (U.K.), and the ethanol plants are located in the
Mid-Continent region of the U.S. In addition, Valero owns the
2 percent general partner interest and a majority limited partner
interest in Valero Energy Partners LP, a midstream master limited
partnership. Valero sells its products in both the wholesale
rack and bulk markets, and approximately 7,400 outlets carry
Valero’s brand names in the U.S., Canada, the U.K. and
Ireland. Please visit www.valero.com for more
information.
Valero ContactsInvestors:John Locke, Vice
President – Investor Relations, 210-345-3077Karen Ngo, Senior
Manager – Investor Relations, 210-345-4574Tom Mahrer, Manager –
Investor Relations, 210-345-1953
Media:Lillian Riojas, Director – Media Relations and
Communications, 210-345-5002
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