South Texas Crude Oil Pipeline To Expand

From Yahoo! In-Play:

NuStar Energy enters into a long-term Pipeline and Terminal Services Agreement with ConocoPhillips (COP) that will allow expansion of NS's South Texas Crude Oil Pipeline System: The agreement will include a pipeline expansion project for NuStar that will allow NuStar to serve ConocoPhillips' (COP) growing production in the Eagle Ford Shale play, and new pipeline and terminal facilities will provide Eagle Ford producers with a cost-effective transportation alternative for their growing production. In addition, NuStar is already constructing a new ship dock in Corpus Christi that will support the North Beach Terminal under a long-term lease with the Port of Corpus Christi. Co expects to invest approximately $100 million to $120 million for these expansions, which are backed by a 10-year throughput commitment. The projects are expected to generate approximately $15 million in incremental, annual EBITDA once fully implemented.