FACTBOX-Oil pipelines projects in U.S. Midcontinent, Texas
(In U.S. dollars unless noted)
June 7 (Reuters) - Oil companies have released a string of pipeline plans aimed at moving a growing glut of crude from Cushing, Oklahoma, to the U.S. Gulf Coast refining hub.
Rising volumes of Canadian crude flowing into the Midwest, especially the delivery point for the New York Mercantile Exchange's oil futures contract in Cushing, have helped push U.S. oil futures CLc1 to a record discount to Brent crude LCOc1 this year.
The spread between the two contracts CL-LCO1=R hit a record over $17 a barrel on Tuesday.
Here is a list of oil pipeline projects in the Gulf of Mexico and Midcontinent regions, either recently completed or in the works:
ENTERPRISE (EPD.N)/ENERGY TRANSFER
Planned:
The two companies plan a joint venture to construct a 400,000 barrel-per-day, 584-mile (940-km) pipeline to ship crude from Cushing to Houston, which would be completed by the end of 2012.
The project also includes construction of an additional 500,000 barrels of crude oil storage at Enterprise's existing crude oil storage facility in Houston.
TRANSCANADA CORP (TRP.TO)
Completed:
Keystone Pipeline - The Keystone line carries 590,000 barrels per day of Canadian oil from Hardisty, Alberta, to Patoka and Wood River, Illinois, and to the storage hub at Cushing.
The company completed the second phase of the line, from Steele City, Nebraska, to Cushing, earlier this month, pushing capacity up from the 435,000 bpd that flowed to the Illinois destinations. [ID:nN0897157]
Proposed:
Keystone XL - The Keystone XL project will run 2,673 km (1,661 miles) from Cushing to Port Arthur, Texas, and carry 500,000 bpd, while additional pipe will boost the capacity of the entire system to 1.1 million bpd.
The Keystone XL project is scheduled to be completed by 2013. However, it has yet to receive final approvals from the U.S. government and faces opposition from some federal and state lawmakers as well as environmentalists, who worry about the impact of increased Canadian oil sands development on air, land, water and local communities. Some oppose the route across Nebraska and its massive Ogallala aquifer.
The company had expected Keystone to cost $5 billion and XL to cost $7 billion, but on Tuesday it increased the estimated outlay for the pair to $13 billion.
Bakken Marketlink - The $140 million project will carry as much as 100,000 bpd of oil from Baker, Montana, in the northern U.S. portion of the Bakken field and connect with the Keystone XL line to carry it to Cushing.
Shippers have signed binding contracts for 65,000 bpd on the planned line.
ENBRIDGE INC (ENB.TO)
Completed:
Alberta Clipper Pipeline - Opened in April 2010, carrying 450,000 barrels of crude per day. The $3.3 billion Alberta Clipper project runs 1,600 km (1,000 miles) from Hardisty, Alberta, to Superior, Wisconsin, and forms part of the company's 2 million bpd mainline system, which handles the bulk of Canada's crude oil exports to the United States.
The line can be expanded to handle as much as 800,000 bpd.
Proposed:
Bakken Expansion - The $560 million project would ship 145,000 bpd from producers in Saskatchewan and North Dakota's Bakken field. The expansion, to be completed by late 2012, will take the oil from the region to a connection with Enbridge's mainline system at Cromer, Manitoba.
The expansion could eventually handle 325,00 bpd.
Monarch Pipeline - The planned 24-inch (61-cm) crude pipeline could carry as much as 350,000 bpd of oil from the Cushing, Oklahoma, storage hub to Houston, but will likely begin with a 150,000 bpd initial phase. The company has yet to offer firm details on the project.
Trailbreaker - The project would reverse Enbridge's 240,000 bpd Line 9, which runs from Montreal to Sarnia, Ontario, and now carries imported crudes shipped by tankers to Portland, Maine. The project, characterized by the company as "on the back burner", would ship oil sands crude to Montreal and, via a separate pipeline, to the Portland tanker port.
PLAINS ALL AMERICAN PIPELINE LP (PAA.N)
Proposed:
Mid-Continent Expansion Project - The $25 million project will add up to 38,000 bpd of capacity for oil from the Cleveland Sand, Granite Wash and Colony Wash regions on the company's Kansas and Oklahoma pipeline systems.
The project includes connecting Plains' Cushing terminal and parts of its Kansas and Colorado systems with the Colorado-to-Cushing White Cliffs pipeline and other adjustments to its Mid-Continent system. It is scheduled to be complete by the third quarter of 2011.
Bakken North Project - The $200 million project would build a new 12-inch pipeline 162 km (100 miles) from Trenton, North Dakota, to the southern terminus of the Wascana pipeline on the Saskatchewan-Montana border. The Wascana line would be reversed to carry up to 50,000 bpd to near Regina, Saskatchewan, and could be expanded to carry as much as 75,000 bpd.
The project is slated for completion in late 2012.
Basin Pipeline Expansion - The project would expand Plains' Basin line to handle 450,000 bpd from 400,000. The system moves crude from West Texas and southern New Mexico to Cushing.
Work is expected to be completed by the first quarter or 2012.
MAGELLAN MIDSTREAM PARTNERS (MMP.N)
Magellan plans to reverse the flow of its Texan Longhorn pipeline, which currently carries refined products from Houston to El Paso. The proposal would transit 225,000 bpd of crude to Houston, and is expected to cost $275 million. [ID:nN04233268] (Reporting by Scott Haggett and Janet McGurty; editing by Marguerita Choy)
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