Cushing pipeline project cancelled

摘要

US midstream firms Enterprise and ETP have cancelled plans to jointly build a 450,000 b/d pipeline to move crude to Houston, Texas, from the Cushing oil hub in Oklahoma in the midcontinent. Enterprise says the 584-mile (940km) Double E pipeline project did not receive sufficient commitments, despite "significant shipper interest". Producers were reluctant to agree to proposed $4-5/bl tariffs and 10-year contract terms, analyst Tudor Pickering Holt says.