Press release from Business Wire
NuStar Energy L.P. Announces Binding Open Season for Proposed South Texas Crude Oil Pipeline System Project
<p class='bwalignc'> <i>Shippers to Have Option to Access Refineries Along Proposed Pipeline</i> <i>Route As Well As Waterborne Movements Across NuStar's Corpus Christi Dock</i> </p>
Wednesday, July 17, 2013
NuStar Energy L.P. Announces Binding Open Season for Proposed South Texas Crude Oil Pipeline System Project16:51 EDT Wednesday, July 17, 2013
SAN ANTONIO (Business Wire) -- NuStar Energy L.P. (NYSE: NS) announced today the launch of a Binding Open Season by its affiliate, NuStar Crude Oil Pipeline L.P. (“NuStar”), to assess shipper interest in committed space to transport Eagle Ford Shale crude oil from several terminal locations on its South Texas Crude Oil Pipeline System in Frio, McMullen, and La Salle Counties to its Corpus Christi North Beach facility (the “South Texas System”).
Proposed South Texas System Project
The proposed South Texas System Project would include pipeline capacity upgrades to the segments of the South Texas System between NuStar's Gardendale Terminal in La Salle County, Texas and NuStar's Corpus Christi Terminal in Nueces County, Texas and will be constructed in two phases: the first phase will add incremental throughput capacity to the South Texas System of approximately 35,000 barrels per day and the second phase will add incremental throughput capacity to the South Texas System of approximately 65,000 barrels per day, for a total aggregate incremental capacity of 100,000 barrels per day, of which 90,000 barrels per day will be available to committed shippers.
Subject to sufficient commitments from shippers as well as regulatory and internal approvals, the South Texas System Project would be in-service in two phases: Phase 1 with 30,000 barrels per day of capacity would be available for service to committed shippers in the 3rd quarter of 2014 and Phase 2 with an additional 60,000 barrels would be available for service to committed shippers during the 1st quarter of 2015.
Binding Open Season
During the Binding Open Season for the South Texas System Project, which commences July 17, 2013 and continues until noon CT on August 30, 2013, with comments and questions as to rates, service or routes and comments to the terms and conditions of the Throughput and Deficiency Agreement and/or the proposed tariff due at noon CT on August 2, 2013, interested parties will have the opportunity to execute a committed agreement for crude oil transportation service. In addition, shippers will have the opportunity to enter into terminalling service agreements that are not part of the Binding Open Season. The Notice of Binding Open Season is available on the web site of NuStar Energy L.P. at http://openseason.nustarenergy.com. Bona fide potential shippers that would like to receive copies of the open season documents, including the Throughput and Deficiency Agreement, the Terminal Services Schedule, and proposed tariff, must first sign a confidentiality agreement (requested by emailing SoTexCrude.OpenSeason@nustarenergy.com).
More information about the Binding Open Season for the Proposed South Texas System Project, including information about rates, service and routes, is available by contacting Mark Meador, VP-Business Development or Rick Webb, VP-Business Development at 210-918-2000.
South Texas Crude Oil Pipeline System
NuStar's South Texas Crude Oil Pipeline System currently consists of over 200 miles of crude transmission and gathering lines spanning from Gardendale in La Salle County and Frio County to Oakville in Live Oak County and continues to Corpus Christi in Nueces County with a capacity to transport approximately 100,000 barrels per day of crude oil. Once construction is completed in early 2015, the system will have a targeted transportation capacity of approximately 200,000 barrels per day.
NuStar Energy L.P.
NuStar Energy L.P., a publicly traded master limited partnership based in San Antonio, is one of the largest independent liquids terminal and pipeline operators in the nation. NuStar currently has 8,621 miles of pipeline; 87 terminal and storage facilities that store and distribute crude oil, refined products and specialty liquids; and 50% ownership in a joint venture that owns a terminal and an asphalt refinery with a throughput capacity of 74,000 barrels per day. The partnership's combined system has approximately 97 million barrels of storage capacity, and NuStar has operations in the United States, Canada, Mexico, the Netherlands, including St. Eustatius in the Caribbean, the United Kingdom and Turkey. For more information, visit NuStar Energy L.P.'s Web site at www.nustarenergy.com.
NuStar Energy, L.P., San Antonio
Investors, Chris Russell, Treasurer and Vice President Investor Relations
Investor Relations: 210-918-3507
Media, Mary Rose Brown, Executive Vice President,
Corporate Communications: 210-918-2314
Web site: http://www.nustarenergy.com