Enterprise and ETP to Form Eagle Ford Pipeline JV
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Enterprise Products Partners and Energy Transfer Partners, today they have agreed to form a 50/50 joint venture to design and construct a crude oil pipeline from Cushing, Oklahoma to Houston. The project would allow greater access to the United States Gulf Coast-area refining complex and add approximately 500,000 barrels of storage capacity at new facilities to be constructed and owned by the joint venture at Enterprise's new Houston crude oil terminal. The pipeline would provide an outlet for more than 400,000 barrels per day of crude oil supplies which are currently stranded at the Cushing hub and priced at a substantial discount to imported crude oil on the Gulf Coast. The pipeline would also give refiners on the Gulf Coast improved access to growing supplies of domestic crude oil…
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