Magellan Midstream Extends Open Season
Midstream service provider Magellan Midstream Partners has announced that it is extending its open season to solicit capacity commitments from shippers to transport refined petroleum products to Little Rock, Ark. The extension provides potential shippers additional time to make commitments.
Pipeline operators hold open seasons to ensure all interested parties are made aware of the proposed terms for a new pipeline project, and to determine whether there is sufficient customer interest to pursue it.
Magellan is assessing customer interest for transporting up to 75,000 barrels per day of gasoline, diesel fuel, and jet fuel from its Fort Smith, Ark., terminal via a 160-mile, 12-inch-diameter pipeline to the Little Rock market, giving it access to refined products from Mid-Continent and Gulf Coast refineries.
Potential shippers can submit binding commitments by 5:00 p.m. Central Time on Nov. 20. Subject to a successful conclusion of the open season and securing necessary permits, the potential pipeline could be operational in the third quarter of 2015.
The article Magellan Midstream Extends Open Season originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool recommends Magellan Midstream Partners. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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