Magellan, TransCanada Pursue Houston Pipeline Connection

Magellan Midstream Partners and TransCanada have a joint development agreement to connect TransCanada’s Houston tank terminal to Magellan's East Houston terminal. The $50 million project would include a 9-mile, 24-inch pipeline under a 50/50 ownership agreement. It would give TransCanada’s Keystone and Marketlink shippers access to Magellan’s Houston and Texas City crude oil distribution system.