BP Launches Open Season on Proposed Pipeline Reversal Project to Bring Light Canadian Crude to Cushing
Posted on: Friday, 30 March 2007, 09:00 CDT
WARRENVILLE, Ill., March 29 /PRNewswire/ -- BP Pipelines (North America) Inc. will conduct Phase One of an open season for a proposed pipeline reversal project, which will deliver light Canadian crude oil from the Chicago area to Cushing, Oklahoma, a major crude oil trading hub. BP Pipelines is currently conducting preliminary engineering to assess the viability of reversing an existing common carrier 20 to 22-inch, 600-mile long crude oil pipeline, commonly referred to as the BP No. 1 Pipeline. Assuming adequate shipper support, the reversed pipeline could be in southbound service as early as the middle of 2009 with an expected capacity of 100,000 barrels per day and the potential for future expansions to bring total capacity to 200,000 barrels per day.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/NYM120LOGO )
The reversal project presents a timely opportunity for BP Pipelines to meet the transport needs of the growing Western Canadian production of light crude oil and to increase access for such crude oil into existing markets.
The open season process is an offering of pipeline capacity at a discounted rate that is available to all shippers willing to execute long term transportation contracts. Phase One of the open season will be non-binding and is intended to solicit comments and expressions of interest from potential shippers. Phase One of the open season is expected to begin in the middle of April 2007 and will last 30 days.
A complete package of open season documents will be available on the BP Pipelines' website at http://www.bppipelines.com/ shortly.
BP Pipelines (North America) Inc. is one of the largest liquids pipeline companies in the U.S., transporting over 450 million barrel miles of oil, refined products, natural gas liquids and chemicals daily. Beyond its core operations, BP Pipelines participates in and operates numerous joint venture pipelines. The core and joint venture operations span 20 states and the offshore Gulf of Mexico with pipeline control centers located in Oklahoma, Washington and California. BP Pipelines is headquartered in Warrenville, Illinois, and is part of BP's downstream fuels marketing strategic performance unit.
BP America Inc.
CONTACT: Shipper inquiries: John Rasmussen, Business DevelopmentManager, BP Pipelines (North America) Inc., John.Rasmussen@bp.com,+1-281-366-6447; Press inquiries: Scott Dean, Press Office, BP America Inc.,+1-630-821-3212
Web site: http://www.bp.com/http://www.bppipelines.com/
Source: PRNewswire
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