ENTERPRISE PRODUCTS PARTNERS and Energy Transfer Partners plan to form an equal j.v. to construct a 400K-b/d, 584-mile (942-km) pipeline from the oil storage terminal at Cushing, Oklahoma (US) to the refining hub at Houston, Texas (US). In addition to utilizing existing infrastructure, such as Energy Transfer's 240-mile (387-km) natural gas pipeline in eastern TX, the project would include the construction of new facilities with the capacity to hold 500K bbl at Enterprise's ECHO oil terminal near Houston. Many industry players have been clamoring for a solution to relieve pressure from Cushing, where a logistical botdeneck—created by heavy flows of oil into the terminal but limited capacity to ship the crude out—has resulted in deep discounts for US benchmark crude West Texas Intermediate.
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