NEW YORK |
Mon May 7, 2012 4:29pm EDT
May 7 (Reuters) - The Federal Regulatory Energy
Commission (FERC), which regulates interstate pipelines, said on
Monday it was denying the application by Enbridge and Enterprise
to be able to set market-based rates on its reversed Seaway
pipeline, according to an order released by the commission.
The Seaway, which will initially carry 150,000 barrels per
day of both sweet and sour crude from Cushing, Oklahoma to the
refineries along the Gulf Coast, will be the first of several
projects to unlock the surplus of crude in the oil hub.
Enterprise says FERC decision will not impact Seaway startup
NEW YORK, May 7 (Reuters) - Enterprise Products Partners
<EPD.N> said on Monday a decision by the Federal Energy
Regulatory Commission (FERC) will not delay the startup of the
reversed Seaway pipeline, which is planned to occur around May
17.
On Monday, FERC denied the Seaway pipeline the ability to set
market-based rates on the initial 150,000 barrel-per-day
pipeline, the first of several projects to siphon off the
growing crude supplies from the Midwest to the refineries along
the Gulf Coast's refinery row.
A spokesman for Enterprise, which jointly owns the line with
Canada's Enbridge, said that about one-third of the initial
capacity would be affected by the order.
(Reporting By Janet McGurty)
((janet.mcgurty@thomsonreuters.com)(Twitter: @JanetMcGurty)(+1
646 226 3027)(Yahoo ID janet_reuters)(Reuters Messaging:
janet.mcgurty.thomsonreuters.com@reuters.net))
Keywords: PIPELINE OPERATIONS/SEAWAY FERC 
