Seaway to Begin Open Season
November 25 2019 - 7:30AM
Business Wire
Seaway Crude Pipeline Company LLC (“Seaway”) today announced a
binding open season for committed service on expansion capacity of
its existing system originating in Cushing, Oklahoma and extending
to the Texas Gulf Coast. The cost-efficient expansion would
debottleneck and optimize the system, principally through pump
upgrades. The expansion could provide an incremental 200,000
barrels per day (“BPD”), or more, of light crude capacity and
include further quality enhancements in the segregation of heavy
and light crude shipments. Further expansion is possible, depending
on customer demand. Up to 100,000 BPD of initial light crude
expansion capacity could be available beginning in the second half
of 2020, with the expansion fully in-service in 2022. The final
capacity for committed and uncommitted service would be determined
during the open season. Seaway is offering a competitive fee
schedule, starting at $0.99 per barrel for light crude oil pipeline
transportation from Cushing. Fees will vary depending on volume,
destination, and term.
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 Houston,
Freeport, Texas City, and Beaumont/Port Arthur.
The open season begins at 9 a.m. CST on December 16, 2019 and
continues until 5 p.m. CST on February 14, 2020. Additional
details, including the open season terms and the required
transportation services agreement form, will be distributed to
potential shippers who execute a confidentiality agreement.
Interested shippers should direct commercial inquiries 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191125005136/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)
Historical Stock Chart
From Mar 2024 to Apr 2024
Enbridge (NYSE:ENB)
Historical Stock Chart
From Apr 2023 to Apr 2024