Buckeye receives FERC approval of settlement with airlines

Buckeye Partners LP (NYSE: BPL) has received US Federal Energy Regulatory Commission (FERC) approved without modification of a settlement between one of its operating subsidiaries, Buckeye Pipe Line Co. LP, and Delta Air Lines, JetBlue Airways, United/Continental Air Lines, and US Airways/American Airlines (collectively, “Airlines”). 

This settlement resolved all complaints filed by the Airlines with FERC challenging Buckeye Pipe Line’s rates for transportation of jet fuel from New Jersey to three New York City area airports. 

“This approval by FERC is the final step in resolving these longstanding issues,” said Clark C. Smith, Buckeye chairman, president, and CEO.  “We look forward to working with the Airlines on improvements to enhance the utilization of our pipeline systems to these airports.”

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