UPDATE 2-Enterprise mulls options for low-volume Centennial pipe
HOUSTON, April 17 (Reuters) - Enterprise Products Partners LP is considering options for its joint-venture 210,000 barrels-per-day (bpd) Centennial refined products pipeline because of low volumes shipped from the U.S. Gulf Coast to Illinois, an executive told analysts on Wednesday.
The company has considered moving different products or reversing the pipeline but "nothing has come to fruition yet," Tom Zulim, group senior vice president of regulated businesses and refined products, said during Enterprise's annual analyst meeting.
Centennial is a 50/50 joint venture between Enterprise and Marathon Petroleum Corp.
"It continues to be in service, but it's not moving much right now. South to north, refined products," Zulim said without specifying volume levels.
He said the company would "take a hard look" at options for the pipeline, but "nothing has really stuck yet."
Marathon Petroleum spokesman Shane Pochard said the company has had "discussions" with its partner Enterprise, considering various opportunities, but declined to disclose volume levels or specific options.
"We are continuously evaluating options to enhance the value of assets," he said.
The 795-mile (1,279 km) Centennial pipeline originates at a tank farm in Beaumont, Texas, and extends to Bourbon, Illinois south of Chicago.
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