The 50/50 joint venture, known as Double Eagle Pipeline LLC, will construct and own approximately 140 miles of new pipeline to connect an existing 50-mile pipeline segment owned by Copano to Karnes, Live Oak, McMullen and LaSalle Counties of Texas, enabling delivery of condensate to Magellan’s terminal in Corpus Christi.   
The initial capacity of the pipeline will be 100,000 b/d. Double Eagle also will construct a new truck unloading facility along the pipeline near Three Rivers, Texas, for deliveries of condensate destined for Corpus Christi.   
The joint venture project is supported by long-term customer commitments from Talisman Energy USA Inc. and Statoil Marketing and Trading (US) Inc., major producers with significant acreage in the rich gas window of the Eagle Ford Shale.    
The expected cost of the new joint venture facilities is approximately $150 million and will be shared equally by Copano and Magellan.   
The companies expect to provide limited services by the end of 2012, with full service available beginning in the first quarter of 2013.   In connection with the joint venture, Copano will convert its existing 50-mile pipeline from natural gas to condensate service, and Magellan will make enhancements to its Corpus Christi terminal, including the construction of 500,000 bbl of new dedicated condensate storage and a new dedicated dock delivery pipeline.   
Copano Energy is a midstream natural gas company with operations in Texas, Oklahoma, Wyoming and Louisiana. Its assets include approximately 6,400 miles of active natural gas gathering and transmission pipelines, 340 miles of NGL pipelines and 10 natural gas processing plants.