TULSA, Okla. and HOUSTON, Oct. 24, 2013 /PRNewswire/ -- Bluegrass Pipeline LLC, a joint venture between Williams (NYSE: WMB) and Boardwalk Pipeline Partners, LP (NYSE: BWP) (Boardwalk), today announced that it will be commencing a binding Open Season to determine industry commitments to natural gas liquids (NGLs) transportation capacity from the Marcellus and Utica shale plays to the petrochemical and export complex on the U.S. Gulf Coast. The Open Season will begin on Oct. 29, 2013 at 8 a.m. CDT and conclude on Dec. 16, 2013 at 5 p.m. CST.
To request a confidentiality agreement and Open Season package or ask questions about the Bluegrass Pipeline, Moss Lake Fractionation or Moss Lake LPG Terminal projects, contact Joe Edgeller with Williams at (918) 573-9917 or Joe.Edgeller@williams.com or Pat Giroir with Boardwalk at (713) 479-8061 or Patrick.Giroir@bwpmlp.com.
Phase one of Bluegrass Pipeline is being designed to provide customers with 200,000 barrels per day of mixed NGLs take-away capacity in Ohio, West Virginia and Pennsylvania. Phase two would increase capacity to 400,000 barrels per day to meet market demand, primarily by adding additional liquids pumping capacity. The pipeline would deliver mixed NGLs from these producing areas to proposed new fractionation and storage facilities that would have connectivity to petrochemical facilities and product pipelines along the coasts of Louisiana and Texas. In addition to these domestic markets, the fractionation and storage facilities are expected to have connectivity to a proposed new liquefied petroleum gas (LPG) export terminal that, based on current market conditions, would offer producers an attractive option for exporting propane and butane, which represent approximately 30 percent of the average NGL barrel."We have seen significant interest from the producer community regarding the value that the Bluegrass Pipeline can offer the market," said Jim Scheel, senior vice president of corporate strategic development at Williams. "We have been in discussion with many Utica and Marcellus Shale producers during the past year and we look forward to additional customer commitments before the end of this year." "We believe our project offers a number of well-defined market options, both domestic and international, that offer attractive netbacks to the Utica and Marcellus producers," said John Haynes, senior vice president and chief commercial officer for Boardwalk Pipeline Partners. "We are encouraged by our meetings with potential customers and are pleased to launch this Open Season." The Bluegrass Pipeline project is comprised of three segments:
- Construction of a new NGL pipeline from numerous natural gas processing plants in producing areas in Ohio, West Virginia and Pennsylvania to an interconnect with Boardwalk's Texas Gas Transmission, LLC system near Hardinsburg, Ky.
- Conversion of a portion of existing pipeline on Texas Gas Transmission from natural gas service to NGL service from Hardinsburg to Eunice, La.
- Construction of a new NGL pipeline from Eunice, La. to a proposed large-scale fractionation plant and expanding natural gas liquids storage facilities in the Lake Charles, La. area.
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 Plus 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