Energy Transfer Eyes Draft Environmental Statement for Blue Marlin Project This Quarter
(Reuters) — Pipeline operator Energy Transfer expects to receive a draft Environmental Impact Statement (EIS) for its Blue Marlin offshore terminal this quarter, executives said on Wednesday during a quarterly earnings call.
Energy Transfer is among several firms vying to build deepwater ports along the Texas Gulf Coast in a bet on rising U.S. crude production and growing exports. U.S. crude exports totaled 4.5 million barrels last week, according to the U.S. Energy Information Administration.
The Dallas, Texas-based company anticipates receiving a license for the terminal within a year of the EIS. Rival Enterprise Products Partners in April became the first company to receive a license for such a project from the U.S. maritime regulator.
Energy Transfer's transported oil volumes grew by 44% during the first quarter to 6.1 million barrels per day, in part due to acquisitions, the company said on Wednesday.
Its oil terminal volumes were up 10% to 3.2 million bpd due stronger Gulf Coast refinery utilization, output growth in the Permian and North Dakota's Bakken shale, and acquisitions.
The company said it would continue to evaluate acquisition opportunities going forward.
"Consolidation makes sense in the midstream space," said co-CEO Tom Long, adding "We're not going to slow down on that front."
Related News
Related News
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- Boardwalk Approves 110-Mile, 1.16 Bcf/d Mississippi Kosci Junction Pipeline Project
- Kinder Morgan Approves $1.4 Billion Mississippi Crossing Project to Boost Southeast Gas Supply
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Enbridge Should Rethink Old, Troubled Line 5 Pipeline, IEEFA Says
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- Polish Pipeline Operator Offers Firm Capacity to Transport Gas to Ukraine in 2025
Comments