BELLAIRE, Texas, Dec. 18 /PRNewswire/ -- West Texas LPG Pipeline
Limited Partnership announced today that it has received final investment
approvals for the expansion of its West Texas LPG pipeline system, a common
carrier. The pipeline system is jointly owned by Chevron Pipe Line Company,
a wholly owned subsidiary of Chevron Corporation (NYSE: CVX) with 80
percent working interest and Buckeye Partners, LP (NYSE: BPL) with 20
percent working interest. It is operated by Chevron Pipe Line and
transports natural gas liquids to Mont Belvieu, Texas.
West Texas Pipeline is expanding the system due to the growth of
liquids production in the Fort Worth basin and East Texas region. The
expansion will provide new capacity of approximately 25,000 barrels per day
from Weatherford Station to Lufkin and an overall system increase of
approximately 25 percent, or more than 50,000 barrels per day, through the
construction of 39 miles of 12-inch pipeline and installation of multiple
booster stations.
West Texas Pipeline has progressed the design, material acquisition,
right-of-way, successful hydro-testing and permitting throughout the
approval process. The new capacity is expected to be operational in the
second half of 2008. West Texas Pipeline has the option to add additional
booster stations to increase capacity above the current expansion volumes
if market conditions justify.
More information on Chevron Pipe Line Company is available at
http://www.chevron-pipeline.com. More information on Buckeye Partners, L.P.
is available at http://www.buckeye.com.
SOURCE West Texas LPG Pipeline
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Related links:
http://www.chevron.com
http://www.buckeye.com
CONTACT:
Houston, TX, Margaret Cooper of Chevron
Corporation, +1-832-854-6239; or Blue Bell, PA, Steve Milbourne
of Buckeye Partners, +1-215-619-3532
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