Sunoco Logistics Partners L.P. (NYSE: SXL) announced today a successful open season for Sunoco Pipeline L.P. and Inland Corporation’s Allegheny Access pipeline project, which will transport refined products from the Midwest to eastern Ohio and western Pennsylvania markets. Enough binding commitments from shippers have been received to enable the project to move forward.
Allegheny Access is expected to have an initial capacity to deliver 85,000 barrels per day with the ability to scale up to 110,000 barrels per day. The project will use a combination of new and existing assets in Ohio and Pennsylvania and over the course of construction up to 600 people could be employed. The Allegheny Access pipeline is expected to be operational in the first half of 2014.
Michael J. Hennigan, Sunoco Logistics’ President and Chief Executive Officer said: “The Allegheny Access pipeline will give refiners and marketers in the Midwest convenient and cost-effective access to eastern Ohio and western Pennsylvania markets, including Pittsburgh. We’re eager to continue our work on the project.”
Pennsylvania Governor Tom Corbett said: “This project is a significant investment in our nation’s energy infrastructure that has two important benefits for the people of Pennsylvania. It will create hundreds of construction jobs and will secure a steady and direct supply of transportation fuels to people in the greater Pittsburgh region.”ABOUT SUNOCO LOGISTICS Sunoco Logistics Partners L.P. (NYSE: SXL), headquartered in Philadelphia, is a master limited partnership that owns and operates a logistics business consisting of a geographically diverse portfolio of complementary pipeline, terminalling and crude oil acquisition and marketing assets. The Crude Oil Pipelines segment consists of approximately 5,400 miles of crude oil pipelines, located principally in Oklahoma and Texas. The Crude Oil Acquisition and Marketing segment consists of acquisition and marketing of crude oil and is principally conducted in the midcontinent and consists of approximately 200 crude oil transport trucks and approximately 120 crude oil truck unloading facilities. The Terminal Facilities segment consists of approximately 42 million shell barrels of refined products and crude oil terminal capacity (including approximately 22 million shell barrels of capacity at the Nederland Terminal on the Gulf Coast of Texas and approximately 5 million shell barrels of capacity at the Eagle Point terminal on the banks of the Delaware River in New Jersey). The Refined Products Pipelines segment consists of approximately 2,500 miles of refined products pipelines located in the northeast, midwest and southwest United States, and equity interests in four refined products pipelines.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV