- Magellan Midstream Partners (MMP) says it will not move forward with its plan to build a long-haul crude oil and condensate pipeline in Texas by late 2019 after failing to get shipper support needed to make the project commercially viable.
- MMP launched on Dec. 1 an open season seeking shipper support for a pipeline in response to growing production from the Permian and Eagle Ford shale oil plays.
- The proposed 375-mile pipeline had been targeted for an initial capacity of at least 350K bbl/day, with the potential to increase to 600K bbl/day for each destination depending on market demand.
Magellan nixes Texas crude pipeline for lack of shipper support
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| Symbol | Last Price | % Chg |
|---|---|---|
| MMP | - | - |
| Magellan Midstream Partners, L.P. | ||