Energy Transfer Partners To Conduct A Binding Open Season
Zacks Investment Research | May 15, 2017 10:08PM ET
Energy Transfer Partners, L.P. (NYSE:ETP) announced that Permian Express Terminal LLC and Permian Express Partners LLC will conduct a binding open season for Permian Express 3. The project is meant to deliver crude oil produced from the Permian Basin to multiple markets.
Open season is a regular activity of pipeline operators to gauge demand for new pipelines.
Duration and Terms of the Open Season
The open season will start on May 16, 2017, and will continue for 30 days. Once the project commences in the fourth quarter of 2017, it is expected to transport up to 100,000 barrels a day. In the future open seasons, Permian Express Terminal LLC and Permian Express Partners LLC expect additional committed service opportunities to rise as much as 300,000 barrels per day.
According to the terms of the open season, shippers will receive incentive rates, making long-term volume commitments.
Open Seasons from Peers
Earlier in Apr 2017, Plains All American Pipeline, L.P (NYSE:PAA) commenced an open season for its planned new crude oil pipeline, extending from Permian Basin to Cushing, OK. (Read more: Zacks Investment Research
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