Enterprise Products Partners L.P. and Energy Transfer Partners, L.P. extended its binding open commitment period for capacity on a proposed crude oil pipeline from Cushing, OK, to Houston.
The two-week extension requested by interested shippers will provide the additional time needed to finalize the necessary binding capacity agreements. Subject to the execution of the required Transportation Services Agreements and obtaining the necessary regulatory approvals, the 584-mile Double E pipeline would provide up to 450,000 bpd of takeaway capacity from the Cushing storage hub.
The pipeline would convert 230 miles of existing natural gas pipeline owned by Energy Transfer, to crude oil service. An additional 354 miles of new construction would follow existing pipeline corridors. Subject to customer commitments and required approvals, the Double E pipeline is expected to begin service in late 2012.