|
|
MLPs
|
|
||
EPIC Delivers Crude to Corpus ChristiAug. 19--San Antonio pipeline operator EPIC Midstream has made its first
delivery of Permian Basin crude oil to the Port of Corpus Christi.
In a statement released Monday morning, EPIC reported using the company's 24-inch natural gas liquids pipeline to send a shipment of crude oil from West Texas town of Crane to various terminals in Corpus Christi and Ingelside. EPIC is temporarily using the natural gas liquids pipeline to ship crude oil amid increased production in the Permian Basin but limited pipeline options to get it to market. The company is building a West Texas to Corpus Christi crude oil pipeline but in the meantime, the Y-Grade natural gas liquids pipeline will be able to deliver up to 400 thousand barrels of crude oil per day. "Providing interim service adds much-needed takeaway capacity in the Permian Basin, which supports continued development and highlights the strategic value of our assets," EPIC's CEO Phillip Mezey said in a statement. With a completion date set for January 2020, the EPIC Crude Oil Pipeline is one of the three crude oi pipeline projects under construciton with the Port of Corpus Christi as its destination. The pipeline build out comes at a time when the port is widening and deepening the ship channel and the South Texas waterway is expected to become the largest crude oil export hub in the United States within the next five years. "The highly anticipated EPIC Y-Grade line is now a reality," Port of Corpus Christi CEO Sean Strawbridge said. "Running crude in the interim is a creative use of this asset while EPIC emerges as a consequential oil and natural gas liquids infrastructure player. We fully support this venture and welcome Phil Mezey and his team to the Port of Corpus Christi with open arms." San Antonio pipeline operator NuStar Energy announced last week that the company received the first shipment of Permian Basin crude oil at the company's Corpus Christi export terminal. NuStar recently completed work connecting its Corpus Christi North Beach Export Terminal to the Cactus II Pipeline, a Permian Basin to Gulf Coast project developed by Houston-based Plains All American Pipeline LP. |
return to message board, top of board |