Phillips 66 Announces Open Season on the Blue Line System
Phillips 66 announces the launch of a binding open season for shipper commitments on its Blue Line System. The system, operated by Phillips 66 Pipeline, will transport propane and butane from Wichita, Kansas, to Jefferson City, Missouri, and East St. Louis, Illinois. The open season starts on June 7, 2024, and will remain open until July 6, 2024. The transportation services are expected to commence in the winter season of 2024, pending FERC approval. Interested parties must sign a confidentiality agreement to participate.
- Launch of binding open season could secure long-term transportation contracts, ensuring steady revenue.
- Blue Line System expansion could enhance Phillips 66's market presence and competitive advantage.
- Expected service start in Q4 2024 aligns Phillips 66 with peak seasonal demand, enhancing profitability.
- Dependence on FERC approval introduces regulatory risk that may delay project timelines.
- Potential high costs and logistics involved in expanding the pipeline infrastructure.
The Blue Line System is a common carrier liquids product pipeline transporting propane and butane between the origin and destination points set forth in its tariff on file at FERC and available on the Phillips 66 website. The open season will provide an opportunity for interested shippers to secure long-term LPG product transportation on the Blue Line System under binding transportation service agreements. The transportation services are expected to be available during winter seasons (October through March) starting in the fourth quarter of 2024, subject to FERC approval of a related settlement to be filed. The open season will commence today, June 7, 2024, at noon CDT and will remain open for 30 days ending at 5:00 pm CDT on July 6.
Prior to participating in the open season, interested parties must execute a confidentiality agreement to govern the receipt of the open season documentation. For a form of confidentiality agreement and additional information regarding the Blue Line System open season, please contact Chris Banket at Resource.BlueLineOpenSeason@p66.com.
About Phillips 66
Phillips 66 (NYSE: PSX) is a leading diversified and integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in
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Jeff Dietert (investors)
832-765-2297
jeff.dietert@p66.com
Owen
832-765-2297
owen.simpson@p66.com
Rich Johnson (media)
832-765-1016
rich.johnson@p66.com
Source: Phillips 66
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