Looks like everything is on schedule with the Seaway Pipeline expansion. Once this line is up to 400,000 bbls/d capacity - hopefully over time, as inventories in Cushing are reduced, PBN and other producers will see less of a discount to WTI.
Seaway Pipeline Expansion Nearing Completion
BusinessWire Â· Jan. 2, 2013 | Last Updated: Jan. 2, 2013 6:51 PM ET
Seaway Crude Oil Pipeline Company LLC announced today that final work is being performed in preparation for the increase in capacity from approximately 150,000 barrels per day (â€œBPDâ€) to approximately 400,000 BPD. In order to complete the remaining pump station connections, transportation service has been suspended on the 500-mile, 30-inch diameter pipeline and is expected to resume operations at full rates by the end of next week.
Seaway Crude Pipeline Company LLC is a 50/50 joint venture owned by affiliates of Enterprise Products Partners (NYSE: EPD) and Enbridge Inc. (NYSE/TSX: ENB). In addition to the pipeline that transports crude oil from Cushing to the Gulf Coast, the Seaway system is comprised of a terminal and distribution network originating in Texas City, Texas, which serves refineries locally and in the Houston area. The Seaway system also includes dock facilities at Freeport and Texas City. For additional information, please visit www.seawaypipeline.com.