Energy Transfer LP (NYSE: ET) and Phillips 66 Partners LP (NYSE: PSXP) today announced that Bayou Bridge Pipeline, LLC (“Bayou Bridge”), a joint venture owned by subsidiaries of Energy Transfer and Phillips 66 Partners, launched a non-binding expansion open season to solicit shipper interest for expanded joint tariff transportation service received from certain connecting carriers onto the Bayou Bridge Pipeline System.
Bayou Bridge is evaluating joint tariff service from origin points in the Bakken/Three Forks Region in North Dakota; Patoka, Illinois; the Powder River Basin in Wyoming; the DJ Basin in Colorado; Cushing, Oklahoma; and the Permian Basin.
Bayou Bridge is owned 60% by Energy Transfer and 40% by Phillips 66 Partners, and is operated by a wholly owned subsidiary of Energy Transfer Operating, L.P.
In addition to the routes that are the subject of this non-binding expansion open season, Bayou Bridge also continues to evaluate additional Southern Louisiana destination points to increase optionality for shippers on the system. Information regarding these additional destinations will be provided to interested shippers upon request.
Following a confirmation of shipper interest, Bayou Bridge will hold a binding expansion open season to finalize committed subscriptions. The incremental capacity that will be created on the various pipeline systems will be determined based on committed subscriptions made by shippers during the binding expansion open season.
Source: Company Press Release