(Dallas, TX) Holly Energy Partners, L.P. and Plains All American Pipeline recently announced the formation of a 50/50 joint venture, Cushing Connect Pipeline & Terminal LLC for the development and construction of a new 160,000 barrel per day common carrier crude oil pipeline that will connect the Cushing, Oklahoma crude oil hub to the Tulsa, Oklahoma refining complex owned by a subsidiary of HollyFrontier Corporation and the ownership and operation of 1.5 million barrels of crude oil storage in Cushing, Oklahoma. The JV Terminal is expected to be in service during the second quarter of 2020, and the Pipeline is expected to be in service during the first quarter of 2021. Long-term commercial agreements have been entered into to support the Joint Venture assets.

The Joint Venture will contract with an affiliate of HEP to manage the construction and operation of the Pipeline and with an affiliate of Plains to manage the operation of the JV Terminal. The total Joint Venture investment will be shared proportionately among the partners and is estimated to total approximately $130 million, including the existing JV Terminal contributed by Plains valued at approximately $40 million. The Joint Venture is expected to generate an initial annual EBITDA multiple of approximately 8x to 9x once the JV Terminal and Pipeline are placed into Joint Venture service.

“The new Joint Venture will provide growth to HEP by insourcing logistics spend and provide the capability to supply 100% of HFC’s Tulsa Refinery crude throughput,” commented George Damiris, Chief Executive Officer of the general partner of Holly Energy Partners. “Our partnership with Plains generates HEP growth while providing HFC long-term control of a strategic asset.”

“This win-win Joint Venture aligns with our strategy of optimizing existing assets to provide value-chain solutions for long-term industry partners in a capital efficient manner,” stated Jeremy Goebel, Executive Vice President – Commercial, Plains All American. “This investment expands our relationship with a key operational hub service customer and provides additional long-term alignment on movements to the Tulsa refinery.”

(Houston, TX) - NextDecade Corporation and Enbridge Inc. announced recently a Memorandum of Understanding (MOU) to jointly pursue the development of the Rio Bravo Pipeline (Rio Bravo) and other natural gas pipelines in South Texas to transport natural gas to NextDecade's Rio Grande LNG project located in Brownsville, Texas. Rio Bravo is designed to transport 4.5 billion cubic feet per day of natural gas from the Agua Dulce area to Rio Grande LNG.

Matt Schatzman, NextDecade's Chairman and Chief Executive Officer said, "Enbridge is one of North America'sleading energy infrastructure companies and we look forward to exploring a strong partnership in South Texas. With its Texas Eastern Pipeline and recently completed Valley Crossing Pipeline, Enbridge has extensive permitting, construction, and operating experience in the State of Texas, especially in South Texas."

Bill Yardley, Enbridge's President of Gas Transmission and Midstream said, "We are excited to be working with NextDecade for pipeline solutions to the Rio Grande LNG facility. Our existing infrastructure fits very well with the Brownsville location. This is a continuation of our strategy to bring our major projects execution and permitting capability to the expanding LNG export efforts in North America."

The companies anticipate finalizing definitive documentation reflecting the terms of the MOU in the fourth quarter of 2019.

(Houston, TX) - Enterprise Products Partners L.P. announced plans to expand and extend its Acadian natural gas system to deliver growing volumes of natural gas from the Haynesville Shale to the liquefied natural gas (“LNG”) market in South Louisiana. The project will include construction of an approximately 80-mile pipeline originating near Cheneyville, Louisiana on Enterprise’s Acadian Haynesville Extension to third party interconnects near Gillis, Louisiana, including multiple pipelines serving LNG export facilities in South Louisiana and southeast Texas. In aggregate, the LNG export market for this region includes design send out capacity currently operating or under construction of approximately 15 billion cubic feet per day (“Bcf/d”). The Gillis Lateral will have a capacity of approximately 1 Bcf/d.

As part of the project, Enterprise also plans to increase capacity on the Acadian Haynesville Extension by adding horsepower at its Mansfield compressor station in De Soto Parish. When completed, the expansion and extension project will increase the Acadian system’s capability to transport Haynesville natural gas production from 1.8 Bcf/d to 2.1 Bcf/d. The project is supported by long-term customer contracts and is expected to begin service in mid-2021.

“The Haynesville region currently produces approximately 11 Bcf/d of natural gas, which is expected to grow to approximately 14 Bcf/d by 2025,” said A.J. “Jim” Teague, chief executive officer of Enterprise’s general partner. “The expansion and extension of the Acadian system enhances our capability to link supply to some of the most attractive markets in the U.S. Once this project is completed, our Acadian system will be able to deliver a total of 2.1 Bcf/d of Haynesville production into the LNG market, South Louisiana industrial complex and other interconnects that serve attractive southeastern U.S. markets.”