Press release from Business Wire
NuStar Energy L.P. Announces Successful Open Season for the South Texas Crude Oil Pipeline System Project
Friday, October 04, 2013
NuStar Energy L.P. Announces Successful Open Season for the South Texas Crude Oil Pipeline System Project09:04 EDT Friday, October 04, 2013
SAN ANTONIO (Business Wire) -- NuStar Energy L.P. (NYSE: NS) announced today that its affiliate, NuStar Crude Oil Pipeline, L.P., has received binding commitments from committed shippers filling all of the space available to committed shippers on Phase 1 of the partnership's South Texas Crude Oil Pipeline System Project. In addition, NuStar continues to receive interest in Phase 2 of the project and will evaluate whether to proceed with this phase of the project in the near future.
NuStar's South Texas Crude Oil Pipeline System currently transports Eagle Ford Shale crude oil from several terminal locations in Frio, McMullen, and La Salle counties to NuStar's Corpus Christi North Beach facility. As previously announced, the proposed South Texas System Project, which is divided into two phases, will include pipeline capacity upgrades to the segments of the South Texas Crude Oil Pipeline System between NuStar's Gardendale Terminal in La Salle County, Texas and NuStar's Corpus Christi North Beach Terminal in Nueces County, Texas. The first phase will add incremental throughput capacity to the South Texas Crude Oil Pipeline System of approximately 35,000 barrels per day and is expected to be available for service to committed shippers in the 3rd quarter of 2014. If NuStar decides to proceed with the second phase of the project, it will add incremental throughput capacity to the South Texas Crude Oil Pipeline System of approximately 65,000 barrels per day and could be available as early as the first quarter of 2015. Both phases, when completed, will add a total aggregate incremental capacity of 100,000 barrels per day, of which 90,000 barrels per day will be available to committed shippers.
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