Enterprise Products Partners L.P. (“Enterprise”) (NYSE: EPD) and Enbridge Inc. (“Enbridge”) (NYSE/TSX: ENB) announced today that they will hold a supplemental binding open commitment period for incremental volumes on the new crude oil pipeline to be built from the Enterprise Crude Houston (ECHO) terminal to Port Arthur, Texas. During the 45-day open commitment period, Enterprise and Enbridge will be soliciting shipper interest for crude oil movements originating from the Houston area bound for the Beaumont/Port Arthur refining complex.
The approximately 85-mile lateral is being constructed to support the Seaway reversal project and is expected to begin service early in 2014. During the open commitment period, Enterprise and Enbridge will offer interested shippers incremental capacity of approximately 200,000 barrels per day (“BPD”) over and above the capacity already subscribed to as part of the Seaway reversal project. This pipeline will integrate the Port Arthur/Beaumont and Houston market, providing greater market optionality for shippers.
The reversal of Seaway and initial 150,000 BPD of southbound crude oil capacity on the system remains on schedule for the second quarter of 2012.
The binding open commitment period will begin at 9 a.m. CST on February 29, 2012 and ends April 13, 2012 at noon CDT. For commercial inquiries, or additional details and materials related to the binding open commitment period, please contact:
|Bart Moore||Bob Schroeder|
|(713) 381-8267||(405) 239-5738|
|Brad Shamla||Vince Paradis|
|(403) 231-5915||(403) 231-5991|
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