Seaway Announces Upcoming Open Season
October 30 2019 - 7:30AM
Business Wire
Seaway Crude Pipeline Company LLC (“Seaway”) today announced its
plans to hold an open season to gauge shipper support for an
expansion of crude oil capacity on its existing system originating
in Cushing, Oklahoma and extending to the Texas Gulf Coast area.
The expansion could provide an incremental 200,000 barrels per day
of light crude capacity and include further quality enhancements in
the segregation of heavy and light crude shipments. The
cost-efficient expansion would debottleneck and optimize the system
principally through pump upgrades. Initial expansion capacity could
be available by mid-2020, with the expansion fully in-service in
2022. The final capacity for committed and uncommitted service
would be determined during the open season. Further expansion
remains possible depending on customer demand. Seaway is targeting
$1.25 per barrel for light crude oil pipeline transportation from
Cushing to the Gulf Coast.
Seaway features access to a fully integrated midstream network
of pipelines, storage facilities, and export terminals along the
Gulf Coast and provides connectivity to every refinery in the
Houston, Freeport, Texas City, and Beaumont/Port Arthur areas.
Dates and other details regarding the open season will be
provided in a future announcement. In the meantime, interested
shippers should direct their questions and requests for information
to Shane Sullivan at (713) 381-6550 or spsullivan@eprod.com.
Seaway Crude Pipeline Company LLC is a 50/50 joint venture owned
by affiliates of Enterprise Products Partners L.P. (NYSE: EPD) and
Enbridge Inc. (NYSE/TSX: ENB). In addition to the pipeline that
transports crude oil from Cushing to the Gulf Coast, the Seaway
system includes a terminal and distribution network originating in
Texas City, Texas, which serves refineries locally and in the
Houston area, and dock facilities at Freeport and Texas City. For
additional information, please visit www.seawaypipeline.com.
This press release includes “forward-looking statements” as
defined by the Securities and Exchange Commission and
“forward-looking information” within the meaning of applicable
Canadian securities legislation (collectively, “forward-looking
statements”). All statements, other than statements of historical
fact, included herein that address activities, events, developments
or transactions that Enterprise and Enbridge expect, believe or
anticipate will or may occur in the future, including anticipated
benefits and other aspects of such activities, events, developments
or transactions, are forward-looking statements. Although
Enterprise and Enbridge believe that the forward-looking statements
included herein are based on information and assumptions which are
current, reasonable and complete, these statements are necessarily
subject to a variety of risks and uncertainties, including required
approvals by regulatory agencies, the possibility that the
anticipated benefits from such activities, events, developments or
transactions cannot be fully realized, the possibility that costs
or difficulties related thereto will be greater than expected, the
impact of competition and other risks and uncertainties included in
the reports filed with the Securities and Exchange Commission by
Enterprise and Enbridge, respectively, and in the filings made by
Enbridge with Canadian securities regulatory authorities. While
Enterprise and Enbridge make these forward-looking statements in
good faith, should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may differ materially from those expected. Readers
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of their dates. Except as required
by law, neither Enterprise nor Enbridge intends to update or revise
its forward-looking statements, whether as a result of new
information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20191030005379/en/
Enterprise Randy Burkhalter,
Investor Relations (713) 381-6812 or (866) 230-0745 Rick Rainey,
Media Relations (713) 381-3635
Enbridge Jonathan Morgan,
Investor Relations (403) 266-7927
Enbridge (NYSE:ENB)
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