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Phillips 66, Energy Transfer and Sunoco Logistics Form Joint Venture to Construct Crude Oil Pipeline from Nederland, Texas, to Louisiana Refinery Market


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Phillips 66, Energy Transfer and Sunoco Logistics Form Joint Venture to Construct Crude Oil Pipeline …


Phillips 66 (PSX), Energy Transfer Partners, L.P. (ETP) and Sunoco Logistics Partners L.P. (SXL) announced that they have formed a joint venture to construct the Bayou Bridge pipeline that will deliver crude oil from the Phillips 66 and Sunoco Logistics terminals in Nederland, Texas, to Lake Charles, Louisiana. The joint venture will also launch an expansion open season for service to the market hub in St. James, Louisiana. Phillips 66 holds a 40 percent interest in the joint venture and Energy Transfer and Sunoco Logistics each hold a 30 percent interest. Sunoco Logistics will be the operator of the system.

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“The Bayou Bridge pipeline, combined with the storage and logistics capabilities of our Beaumont Terminal, provides enhanced opportunities to deliver North American heavy and light crudes into the Louisiana market that is heavily dependent today on marine and rail delivery of crude oil,” said Greg Garland, chairman and CEO of Phillips 66. “The pipeline also complements other pipeline projects we have underway to deliver Bakken crude oil to the Gulf Coast.”

“Energy Transfer is excited to be part of the Bayou Bridge pipeline with our two joint venture partners,” said Lee Hanse, executive vice president of Energy Transfer Partners. “This project is the logical next step in our development of logistical infrastructure to move crude oil to market centers across the U.S., and we believe that it will be a critical conduit for our shippers to transport multiple grades of crude oil to the major refining market in Louisiana.”

“We are pleased to partner with Energy Transfer and Phillips 66 on the Bayou Bridge pipeline,” said Michael Hennigan, president and CEO of Sunoco Logistics. “We believe being connected to our 25 million barrel Nederland crude terminal on the Gulf Coast greatly benefits this project. Our extensive pipeline...