MPLX Announces Extension of Binding Open Season for Proposed Expansion of SLC Core Pipeline System
MPLX LP announced an extension of the binding open season for the SLC Core Pipeline System expansion until Nov. 6, 2020, at 12 p.m. CST. This extension is in response to shipper feedback and includes modest revisions to the transportation service agreement. The proposed expansion aims to increase pipeline capacity by approximately 11,000 barrels per day, bringing total capacity to around 56,000 bpd. Service is expected to commence in the first quarter of 2022.
- Extension of open season allows shippers more time to review revisions.
- Planned expansion increases capacity providing access to Guernsey crude oil market.
- Total capacity of SLC Core Pipeline will increase to approximately 56,000 bpd.
- None.
FINDLAY, Ohio, Oct. 23, 2020 /PRNewswire/ -- MPLX LP (NYSE: MPLX) announced today that it will extend its binding open season for the expansion of the SLC Core Pipeline System by two weeks. In response to feedback from potential shippers, MPLX is making modest revisions to its transportation service agreement under the open season process. The binding open season will be extended to Nov. 6, 2020, at 12 p.m. CST to allow potential shippers adequate time to review these revisions, and to provide additional time to finalize commitments.
The proposed SLC Core Pipeline System capacity expansion would provide shippers access to the Guernsey crude oil market hub and access to additional crude oil grades for refiners in the Salt Lake City, Utah, area. The expansion would provide incremental pipeline capacity of approximately 11,000 barrels per day (bpd), reinstating origin service from Fort Laramie, Wyoming. This expansion would bring total capacity on the SLC Core Pipeline to approximately 56,000 bpd, and is expected to begin service in the first quarter of 2022.
The SLC Core Pipeline System, owned by Tesoro Logistics Northwest Pipeline LLC, a subsidiary of MPLX, is a common carrier system transporting crude oil from various points in Wyoming to Wahsatch Station, Utah, with a connection to a third-party pipeline at Wahsatch Station for further transportation to refineries in the Salt Lake City area, with approximate total delivery capacity of 45,000 bpd.
The binding open season began on Monday, Sept. 21, 2020.
About MPLX LP
MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets, and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. The company also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins. More information is available at www.MPLX.com.
Investor Relations Contacts: (419) 421-2071
Kristina Kazarian, Vice President, Investor Relations
Taryn Erie, Manager, Investor Relations
Media Contact:
Jamal Kheiry, Manager, Corporate Communications (419) 421-3312
Commercial Contacts:
Greg Henderson (210) 626-4585
Ryan Robins (210) 626-4971
This press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements relate to, among other things, statements with respect to forecasts regarding the need for additional pipeline capacity. You can identify forward-looking statements by words such as "anticipate," "believe," "design," "estimate," "expect," "forecast," "goal," "guidance," "imply," "intend," "objective," "opportunity," "outlook," "plan," "position," "pursue," "prospective," "predict," "project," "potential," "seek," "strategy," "target," "could," "may," "should," "would," "will" or other similar expressions that convey the uncertainty of future events or outcomes. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the control of the companies and are difficult to predict. Factors that could impact the opportunities described above are: the timing and extent of changes in commodity prices and demand for crude oil, refined products, feedstocks or other hydrocarbon-based products; continued/further volatility in and/or degradation of market and industry conditions; changes to the expected construction costs and timing of projects; completion of pipeline capacity by competitors; the ability to obtain required regulatory approvals on a timely basis; the occurrence of an operational hazard or unforeseen interruption; and the factors set forth under the heading "Risk Factors" in MPLX's Annual Report on Form 10-K for the year ended Dec. 31, 2019, and Quarterly Reports on Form 10-Q, filed with the Securities and Exchange Commission (SEC). In addition, the forward-looking statements included herein could be affected by general domestic and international economic and political conditions. Unpredictable or unknown factors not discussed here or in MPLX's Forms 10-K and 10-Q could also have material adverse effects on forward-looking statements. Copies of MPLX's Forms 10-K and 10-Q are available on the SEC's website, MPLX's website at http://ir.mplx.com or by contacting MPLX's Investor Relations office.
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SOURCE MPLX LP
FAQ
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