SAN ANTONIO--(BUSINESS WIRE)--Oct. 4, 2013--
NuStar Energy L.P. (NYSE: NS) announced today that its affiliate, NuStar
Crude Oil Pipeline, L.P., has received binding commitments from
committed shippers filling all of the space available to committed
shippers on Phase 1 of the partnership’s South Texas Crude Oil Pipeline
System Project. In addition, NuStar continues to receive interest in
Phase 2 of the project and will evaluate whether to proceed with this
phase of the project in the near future.
NuStar’s South Texas Crude Oil Pipeline System currently transports
Eagle Ford Shale crude oil from several terminal locations in Frio,
McMullen, and La Salle counties to NuStar’s Corpus Christi North Beach
facility. As previously announced, the proposed South Texas System
Project, which is divided into two phases, will include pipeline
capacity upgrades to the segments of the South Texas Crude Oil Pipeline
System between NuStar’s Gardendale Terminal in La Salle County, Texas
and NuStar’s Corpus Christi North Beach Terminal in Nueces County,
Texas. The first phase will add incremental throughput capacity to the
South Texas Crude Oil Pipeline System of approximately 35,000 barrels
per day and is expected to be available for service to committed
shippers in the 3rd quarter of 2014. If NuStar decides to
proceed with the second phase of the project, it will add incremental
throughput capacity to the South Texas Crude Oil Pipeline System of
approximately 65,000 barrels per day and could be available as early as
the first quarter of 2015. Both phases, when completed, will add a total
aggregate incremental capacity of 100,000 barrels per day, of which
90,000 barrels per day will be available to committed shippers.
NuStar Energy L.P., a publicly traded master limited partnership based
in San Antonio, is one of the largest independent liquids terminal and
pipeline operators in the nation. NuStar currently has 8,621 miles of
pipeline; 87 terminal and storage facilities that store and distribute
crude oil, refined products and specialty liquids; and 50% ownership in
a joint venture that owns a terminal and an asphalt refinery with a
throughput capacity of 74,000 barrels per day. The partnership’s
combined system has approximately 97 million barrels of storage
capacity, and NuStar has operations in the United States, Canada,
Mexico, the Netherlands, including St. Eustatius in the Caribbean, the
United Kingdom and Turkey. For more information, visit NuStar Energy
L.P.'s Web site at www.nustarenergy.com
Source: NuStar Energy L.P.
NuStar Energy, L.P., San Antonio
Investors, Chris Russell,
Treasurer and Vice President Investor Relations
Investor Relations:
210-918-3507
or
Media, Mary Rose Brown, Executive Vice
President,
Corporate Communications: 210-918-2314
Web site: http://www.nustarenergy.com