Published 23 December 2011
Copano Energy in partnership with Magellan Midstream have formed a joint venture (JV) to deliver Eagle Ford Shale condensate to Corpus Christi located in the US state of Texas.
The 50/50 joint venture, under the name Double Eagle Pipeline will construct and own about 140 miles of new pipeline to connect an existing 50-mile pipeline segment owned by Copano to Karnes, Live Oak, McMullen and LaSalle Counties of Texas.
The pipeline enables delivery of condensate to Magellan's terminal in Corpus Christi.
Initial capacity of the pipeline will be 100,000 barrels per day.
In addition, Double Eagle will construct a new truck unloading facility along the pipeline near Three Rivers, Texas for deliveries of condensate specified for Corpus Christi.
The expected cost of the new joint venture facilities is about $150m and will be shared equally by Copano and Magellan.
Copano will oversee construction of the new pipeline and serve as operator.
The companies expect to provide limited services by the end of 2012, with full service available beginning in the first quarter of 2013.
In connection with the joint venture, Copano will convert its existing 50-mile pipeline from natural gas to condensate service, and Magellan will make enhancements to its Corpus Christi terminal.
The terminal includes the construction of 500,000 barrels of new dedicated condensate storage and a new dedicated dock delivery pipeline.
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