New pipeline expected to have initial capacity of 120 MBOP
Plains All American Pipeline (ticker: PAA) announced that it is conducting an open season for committed capacity on a proposed new crude oil pipeline from Cushing, Oklahoma to Longview, Texas, according to a company press release. The company said that the open season will offer a chance for shippers to make a long-term volume commitment in exchange for discounted rates.
The proposed pipeline would originate at the Plains Cushing, Oklahoma Terminal and provide an initial capacity of approximately 120 MBOPD of light sweet crude to Longview, Texas.
PAA owns a network of 17,800 miles of active crude oil and NGL pipelines and gathering systems, 29 million barrels of active, above-ground tank storage capacity, 149 transport and storage barges, and 800 trailers. On average, the company handles over 4.2 MMBOPD of crude oil and NGL on its pipelines.
