Enbridge and Energy Transfer (ETP, ETE) join to provide crude oil pipeline access to Eastern Gulf Coast market Co and Energy Transfer (ETP, ETE) announced that they have entered into an agreement on the terms for the joint development of a project to provide crude oil pipeline access to the eastern Gulf Coast refinery market from the Patoka, Illinois hub. The project will involve the conversion from natural gas service to crude oil service of certain segments of pipeline that are currently in operation as part of the natural gas system of Trunkline Gas Company, a subsidiary of Energy Transfer Partners and Energy Transfer Equity. This agreement is subject to approval by the Federal Energy Regulatory Commission of Trunkline's July 2012 request to abandon certain designated segments of pipeline from natural gas transmission service. The converted 30-inch diameter crude oil pipeline is expected to be in service by 2015. It will have capacity of up to 420,000 to 660,000 barrels per day depending on crude slate and the level of subscriptions received in an open season to be conducted in the near future.

Briefing.com is the leading Internet provider of live market analysis for U.S. Stock, U.S. Bond, and world FX market participants.

Read more In play articles