Buckeye Partners, L.P. (Buckeye) is preparing for a binding open season in connection with the development of a new crude oil pipeline from the Permian Basin to Corpus Christi (Texas). The pipeline is part of a series of potential investment projects that Buckeye is pursuing to significantly enhance Permian Basin crude oil flows.
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"Buckeye preparing for South Texas Gateway open season"
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The proposed new pipeline system, to be named South Texas Gateway, would deliver crude oil and condensate from origination points in Wink and Midland, Texas to the existing Buckeye Texas Partners LLC (BTP) refining and export facilities in Corpus Christi. The pipeline is currently expected to be 24 in. dia. with a total capacity of up to 400 000 bpd with multiple segregations.
Buckeye currently plans to hold a binding open season for the South Texas Gateway pipeline during 3Q017, with the expectation that the pipeline will be in service in 2019.
In conjunction with the announcement of the South Texas Gateway project, Buckeye has declared that it also is developing projects to expand its existing capabilities and create new connectivity throughout the Corpus Christi market. These development projects consist of:
- Building a distribution system, to be named Buckeye Texas Market Center, which would enable crude oil deliveries from new and existing pipelines originating in the Eagle Ford Shale and the Permian Basin to refining and processing markets in Corpus Christi, enhancing overall market liquidity.
- Adding a fifth deepwater dock at the BTP facilities, capable of high rate loading Suezmax-sized vessels, which would complement existing export and import capabilities.
- Expanding the storage capabilities at BTP’s Corpus Christi facilities to provide dedicated storage to shippers on South Texas Gateway and to BTP terminal customers.
- Evaluating, in addition to the South Texas Gateway project, a similar long haul pipeline offering Permian Basin producers and processors a comprehensive system solution for natural gas liquid takeaway to BTP’s existing export facilities in Corpus Christi.
“We are excited to announce these projects in response to strong interest from potential customers,” said Clark C. Smith, Buckeye’s Chairman, President and Chief Executive Officer. “The Permian Basin is one of the most prolific oil producing areas in the world and is a natural point of connectivity to enhance our existing assets in South Texas. These assets, in turn, make Buckeye uniquely positioned to help customers maximize the value of their product.”
Read the article online at: https://www.worldpipelines.com/project-news/31032017/buckeye-preparing-for-south-texas-gateway-open-season/