March 3, 2011 / 9:53 PM / 9 years ago

Magellan to develop Eagle Ford oil line in Texas

NEW YORK, March 3 (Reuters) - Magellan Midstream Partners (MMP.N) said on Thursday it is developing a new 180,000 barrels-per-day (bpd) pipeline that will carry Eagle Ford crude oil and condensate from LaSalle and Live Oak County in Texas to Corpus Christi, Texas.

The pipeline will supply markets in Corpus Christi, Houston and Beaumont, Texas and St. James, Louisiana.

Magellan said design of the 180 miles (289 kilometers) pipeline is nearing completion. Construction could take 14 to 18 months, according to company estimates.

The project will include an expansion of crude oil and condensate storage at Magellan’s terminal in Corpus Christi. This could entail construction of more than 1 million barrels of new storage at Magellan’s Corpus Christi terminal. (Reporting by Selam Gebrekidan; Editing by Marguerita Choy)

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