August 2, 2012 [OPIS] - Magellan Midstream Partners said on Wednesday that it expects to complete the construction of 1.5-million-bbl capacity of new refined products storage, primarily at its Galena Park, Texas, marine terminal, by the end of 2012.
Another 600,000 bbl of capacity is expected to come on line during early 2013.
Magellan’s Crane-to-Houston crude project is still expected to begin transporting crude oil at partial capacity by early 2013, ramping to its full 225,000 b/d capacity by mid-2013.
The Double Eagle joint venture is also proceeding and expected to be partially operational in early 2013, with full operation in mid-2013.
The partnership continues to evaluate more than $500 million of potential growth projects in earlier stages of development, which have been excluded from these spending estimates.
In addition, management and Occidental Petroleum continue to jointly assess the potential BridgeTex pipeline, which also has been excluded from the spending estimates.
