HOUSTON Dec 4 Marathon Petroleum Corp's
planned 50-mile pipeline in Ohio's Utica shale play could lead
to other projects to move condensate further west or into
Canada, an executive told analysts on Wednesday.
The $140 million Utica pipeline project, dubbed Cornerstone,
"could be the foundation for other projects to ship excess
condensate west to refineries or on to Canada to use as a
diluent," Garry Peiffer, executive vice president of corporate
planning and investor and government relations, said during a
webcast of the company's annual analyst meeting in New York.
Chief Executive Gary Heminger earlier told analysts that the
company aims to invest aggressively in its midstream and retail
segments to help balance the volatility of its refining segment.
Condensates are very light hydrocarbons that can be sold as
crude oil, a diluent to blend into heavy Canadian crude, or
processed in a condensate splitter and sold.