Valero signs pipeline and terminal agreements
Published by Anna Nicklin,
Assistant Editor
Tanks and Terminals,
V-Tex Logistics, LLC, an indirect wholly owned subsidiary of Valero Energy Corp., has signed an agreement with Magellan Pipeline Company, L.P., an indirect wholly owned subsidiary of Magellan Midstream Partners, L.P., to jointly build a 16 in. products pipeline of approximately 135 miles long, from Houston to Hearne, Texas, US. Valero will also build a terminal in Hearne, a terminal in Williamson County, Texas, and an approximately 70 mile, 12 in. pipeline to connect the two terminals.
Valero’s expected cost for the projects is US$380 million, with targeted completion in mid-2019. Construction of the pipelines and terminals will provide a reliable fuel supply alternative for the fast-growing Central Texas marketplace. The new facilities are expected to supply up to 60 000 bpd into Williamson County.
“These projects support our long-term strategy of expanding and extending our supply chain through organic growth projects,” said Joe Gorder, Valero Chairman, President and CEO. “We are very pleased to participate in the Magellan South Pipeline Expansion project. Valero and Magellan have had a long and successful working relationship and the Houston to Hearne pipeline project will build on that history.”
Read the article online at: https://www.tanksterminals.com/storage-tanks/07092017/valero-signs-pipeline-and-terminal-agreements/
You might also like
EU Commission releases statement on European gas storage levels
Commissioner for Energy Kadri Simson has released a statement on record post-winter gas storage levels in Europe.