August 29, 2019 / 4:51 PM / 19 days ago

EPIC lowers spot rates on new pipeline from Permian to U.S. Gulf Coast -filing

HOUSTON, Aug 29 (Reuters) - EPIC Crude Pipeline LP has proposed a lower rate to transport crude oil on its new 400,000 barrel-per-day pipeline from the Permian Basin to the U.S. Gulf Coast, effective Sept. 1, according to regulatory filings this week.

* EPIC proposed to drop tariff rates for all volumes on the line to $1.35 a barrel, according to the filing with the Federal Energy Regulatory Commission (FERC) on Wednesday.

* The proposed rate is down from the current $2.50 a barrel tariff, which had already been reduced from $5 a barrel before the pipeline began operations in mid-August.

* The San Antonio-based pipeline operator also said it expects a Permian Basin origin point at the Advantage Pipeline, a short-haul line owned by Noble Midstream Partners LP and Plains All American Pipeline LP in Crane, Texas, to begin service by Sept. 15.

* Its main crude storage terminal at Robstown, Texas, near the state’s coastline, was not in service yet, EPIC said in the filing.

* Deliveries had also not yet begun at Flint Hills Resources’ crude terminal in Ingleside, Texas, its own waterside storage facility in Corpus Christi, Texas, and the nearby POTAC Terminal, owned by Pin Oak, a joint venture owned by Dauphine Midstream LLC and Mercuria Energy Group Ltd, the filing said. (Reporting by Collin Eaton in Houston Editing by Matthew Lewis)

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