From PR News Wire
Magellan Midstream Partners, L.P. (NYSE: MMP) announced today a new open season to solicit additional commitments from shippers to potentially further expand the western leg of its refined petroleum products pipeline system in Texas. Binding commitments are due from interested customers by 5:00 p.m. Central Time on July 11, 2018.
Magellan previously announced it is expanding the capacity of the western leg of its Texas refined products pipeline system to approximately 150,000 barrels per day (bpd) from its current capacity of 100,000 bpd.
Subject to the results of the supplemental open season launched today, the partnership is considering the addition of another 35,000 bpd of capacity, for a total capacity up to 185,000 bpd. In addition, construction of a new refined products terminal in Midland remains under review.
All of the expanded capacity will handle incremental shipments of gasoline and diesel fuel to demand centers in Abilene, Midland/Odessa and El Paso, Texas and New Mexico. The pipeline system can also access markets in Arizona and Mexico via connections to other pipelines.
Magellan currently expects the expanded capacity to be available mid-2020, subject to receipt of all permits and approvals.
About Magellan Midstream Partners, L.P.
Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. The partnership owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation’s refining capacity, and can store more than 100 million barrels of petroleum products such as gasoline, diesel fuel and crude oil. More information is available at www.magellanlp.com.
