Buckeye Partners, L.P. Announces Favorable Results of Non-Binding Open Season and Potential Addition of Midwest

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Tue Apr 6, 2010 6:40pm EDT

  HOUSTON, TX, Apr 06 (MARKET WIRE) -- 
Buckeye Partners, L.P. ("Buckeye") (NYSE: BPL) announced today that it
has received favorable responses from potential customers to transport
natural gas liquids ("NGLs") produced in the Marcellus Shale Basin in
Pennsylvania to the market in Sarnia, Ontario on its proposed Union
Pipeline project. Buckeye conducted its previously announced non-binding
open season for the Union Pipeline during March 2010 to better define the
potential demand for the proposed pipeline. The expressions of interest
received by Buckeye during the non-binding open season support continued
development of engineering designs for the Union Pipeline.

    "The initial interest we received during the open season exceeded our
expectations," stated Forrest E. Wylie, Chairman and Chief Executive
Officer of Buckeye's general partner. "Based on this level of interest,
Buckeye is now considering the possibility of adding a destination near
Chicago, which has existing NGL pipeline infrastructure, in addition to
the Sarnia, Ontario market. We believe the Union Pipeline would provide a
comprehensive solution for producers of NGLs in the Marcellus Shale Basin
and would provide customers with competitively priced alternative
distribution options," continued Wylie. Buckeye expects to continue
discussions with potential customers regarding the Union Pipeline project
and to hold a binding open season in mid-2010. 

    This press release includes forward-looking statements that Buckeye
believes to be reasonable as of today's date. Such statements are
identified by use of the words "anticipates", "believes", "estimates",
"expects", "intends", "plans", "predicts", "projects", "should", and
similar expressions. Actual results may differ significantly because of
risks and uncertainties that are difficult to predict and that may be
beyond Buckeye's control. You should read Buckeye's Annual Report on Form
10-K for the year ended December 31, 2009 for a more extensive list of
factors that could affect results. Buckeye undertakes no obligation to
revise any forward-looking statements to reflect events or circumstances
occurring after today's date. 

    



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