March 31 Magellan Midstream Partners LP
said on Monday it plans to construct a facility to process
condensate, a very light form of crude oil, at its terminal in
Corpus Christi in Texas with commodity trader Trafigura AG
The splitter, or a very basic distillation tower which will
give condensate a minimal level of processing, will be capable
of processing 50,000 barrels per day (bpd) of condensate.
Without processing, condensate is considered crude oil
under U.S. law and therefore cannot be exported.
Magellan said it expects the condensate splitter and related
infrastructure to cost about $250 million.
(Reporting by Ashutosh Pandey and Swetha Gopinath in Bangalore;
Editing by Maju Samuel)