Pipeline expected to be fully operational by April 1
DALLAS & HOUSTON--(BUSINESS WIRE)--Mar. 26, 2019--
Energy Transfer (NYSE: ET) and Phillips 66 Partners (NYSE: PSXP)
announced today that the second phase of the Bayou Bridge Pipeline is
complete and ready for service. The 163-mile, 24-inch pipeline will
transport crude oil from Lake Charles, Louisiana, to terminalling
facilities outside St. James, Louisiana, beginning April 1, 2019.
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The pipeline, owned 60 percent by Energy Transfer and 40 percent by
Phillips 66 Partners, is operated by Energy Transfer.
The first phase of the Bayou Bridge Pipeline went into service in April
2016, and currently transports multiple grades of crude oil through 49
miles of 30-inch pipe from Nederland, Texas, to Lake Charles, Louisiana.
The second phase of the Bayou Bridge Pipeline provides Louisiana
refiners with more efficient and sustainable access to North American
crude oil as well as market diversification for North American
producers. Additionally, the pipeline will further decrease our
country’s reliance on less stable foreign sources for crude oil.
About Energy Transfer
Energy Transfer LP (NYSE: ET) owns and operates one of the largest and
most diversified portfolios of energy assets in the United States, with
a strategic footprint in all of the major U.S. production basins. ET is
a publicly traded limited partnership with core operations that include
complementary natural gas midstream, intrastate and interstate
transportation and storage assets; crude oil, natural gas liquids (NGL)
and refined product transportation and terminalling assets; NGL
fractionation; and various acquisition and marketing assets. ET, through
its ownership of Energy Transfer Operating, L.P., formerly known
as Energy Transfer Partners, L.P., also owns the general partner
interests, the incentive distribution rights and 28.5 million common
units of Sunoco LP (NYSE: SUN), and the general partner interests and
39.7 million common units of USA Compression Partners, LP (NYSE: USAC).
About Phillips 66 Partners
Headquartered in Houston, Phillips 66 Partners is a growth-oriented
master limited partnership formed by Phillips 66 to own, operate,
develop and acquire primarily fee-based crude oil, refined petroleum
products and natural gas liquids pipelines, terminals and other
midstream assets. For more information, visit www.phillips66partners.com.
Statements in this press release may be forward-looking statements as
defined under federal law. These forward-looking statements rely on a
number of assumptions concerning future events and are subject to a
number of uncertainties and factors, many of which are outside the
control of ET, and a variety of risks that could cause results to differ
materially from those expected by management of ET. An extensive list of
factors that can affect future results are discussed in the
Partnership’s Annual Report on Form 10-K and other documents filed from
time to time with the Securities and Exchange Commission. ET undertakes
no obligation to update or revise forward-looking statements to reflect
changed assumptions, the occurrence of unanticipated events or changes
to future operating results over time.
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Source: Energy Transfer LP and Phillips 66 Partners
Bill Baerg, Lyndsay
Hannah, Brent Ratliff: 214-981-0795
Vicki Granado, Alexis Daniel: 214-840-5820
Phillips 66 Partners
Brent Shaw: 832-765-2297
Dennis Nuss, 855-841-2368