NuStar Energy begins binding open season for pipeline system expansion

NuStar Energy LP (NYSE: NS) has begun its second binding open season of its South Texas Crude Oil Pipeline System project by its affiliate, NuStar Logistics LP. The second binding open season began April 2, and continues until noon Central Time on April 23.

With the first expansion of the South Texas Crude Oil Pipeline System nearing completion, Highway 99 in McMullen County, Texas, has emerged as a new crude oil pipeline transportation origin. Current construction has resulted in an additional 10,000 barrels per day available for a firm volume commitment, after a 10% set-aside for walk-up shippers. Deliveries into the proposed Highway 99 origin would need to be under the 45º API gravity common grade.

Under the Second South Texas Expansion Project binding open season, new shippers may sign a throughput and deficiency agreement (T&D Agreement) for firm committed transportation rights on NuStar’s South Texas Crude Oil Pipeline System at any of the four origin points, including the new Highway 99 origin point. Further, existing firm committed shippers of the first expansion of the South Texas Crude Oil Pipeline System may elect to amend their existing T&D Agreement to add Highway 99 as an origin in fulfillment of the contracted volume commitment.

NuStar’s South Texas Crude Oil Pipeline System currently consists of over 200 miles of crude transmission and gathering lines, spanning from LaSalle, McMullen, Frio, and Live Oak counties, and continuing to Corpus Christi in Nueces County.

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