CORRECTED-Enterprise does not expect negative FERC ruling on Seaway
(Corrects attribution of quote to a Senior Vice President from the CEO)
NEW YORK Oct 31 (Reuters) - Enterprise Products Partners LP said on Thursday it does not expect a negative ruling from the Federal Energy Regulatory Commission (FERC) on its committed rates for the Seaway pipeline, the main artery for crude from the Cushing hub to the Gulf Coast.
A judge said last month the committed rates, which had been agreed with shippers in long-term contracts, should be cut, in a ruling several energy companies called "unprecedented." FERC is yet to issue a final ruling in the case.
"I don't think we expect a negative outcome on that," Group Senior Vice President William Ordemann said on an earnings call. "We've already heard from them once, a positive ruling, and we don't expect otherwise." (Reporting by Sabina Zawadzki; Editing by Gerald E. McCormick)