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Buckeye launches open season for South Texas Gateway project

Buckeye Partners LP launched an open season late Dec. 21 for a pipeline that can deliver up to 600,000 barrels per day of crude and condensate from the Permian Basin to the Texas Gulf Coast.

South Texas Gateway Pipeline LLC's binding open season is soliciting commitments for the project, which will be able to deliver a variety of crude products to the Gulf Coast ports of Corpus Christi, Ingleside and Houston.

Buckeye thinks the Port of Corpus Christi hub will emerge as a location for crude exports, particularly for grades of oil that cannot be accommodated by refineries in the Gulf Coast. "We do believe that Corpus is going to be further advantaged, just given the ability for it to be able to berth larger vessels, vis-a-vis the Houston Ship Channel," Buckeye's President for Marine Terminals Khalid Muslih said on the partnership's Nov. 3 earnings conference call.