Midstream - Pipelines
Spectra's Express Pipeline Lands New Longterm Agreements
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Spectra Energy Corp. and Spectra Energy Partners have announced new long-term agreements for shipments on the Express crude oil pipeline.
As a result of a recent open season, firm contracted commitments on the pipeline have increased from 119 thousand barrels per day (mbpd) to 225 mbpd, with the average contract length going from 1.5 years to more than 11 years. Contracts stemming from this open season are effective as early as October 2013 and phase in over two years.
Duane Rae, president of Spectra Energy Liquids, commented: "The success of this open season demonstrates the Express pipeline's strong positioning to meet growing oil transportation needs. We received shipping requests well in excess of the pipeline's capacity. Our team has moved quickly to leverage the pipeline's growth…
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