Oiltanking Partners Announces $200M in Expansion Projects

Oiltanking Partners

today announced that the board of directors of its general partner has approved approximately $200 million of additional crude expansion projects. The Partnership intends to construct two new crude oil pipelines connecting its Houston terminal with Crossroads (sometimes referred to as Moore Road) Junction, a critical distribution point for the Houston market, for a total cost of approximately $98 million.  Our expansion projects will include a new 24-inch pipeline to Crossroads Junction that will give our terminal customers access to the origination point of Shell Pipeline's Houston-to-Houma pipeline (the "HoHo Pipeline"), which is scheduled to transport crude oil from the Houston area eastbound to refining centers in Texas and Louisiana.  The Partnership also intends to construct a new 36-inch pipeline to Crossroads Junction that will give our terminal customers access to the termination point of TransCanada Corporation's Gulf Coast Pipeline from Cushing, which is expected to connect to the Keystone XL pipeline if approved and constructed. Anne-Marie Ainsworth, President and CEO, stated, "These projects will be a further extension of our unmatched crude network in the Houston market.  The new pipelines will provide our customers additional inbound and outbound