DALLAS–(BUSINESS WIRE)–Energy Transfer Partners, L.P. (NYSE: ETP) (“ETP” or the “Partnership”) today announced that Permian Express Terminal LLC and Permian Express Partners LLC will commence a binding Open Season for Permian Express 3. The project is being developed to deliver crude oil from the Permian Basin to multiple markets.
Permian Express 3 is initially expected to provide transportation of up to 100,000 barrels per day, with service commencing in the fourth quarter of 2017.
Additional committed service opportunities are expected to be offered in future open seasons that will provide for an estimated total capacity of up to 300,000 barrels per day.
The initial phase of the project will provide Midland Basin producers new crude oil takeaway capacity from this rapidly growing area to the Nederland, Texas, market. Future phases of the project are anticipated to offer crude oil transportation service from the Delaware Basin to multiple markets.
The Open Season will commence on May 16, 2017. Subject to the terms of the Open Season, incentive rates will be available to shippers making long-term volume commitments during the Open Season. The Notice of Open Season will be available on the website at: http://www.energytransfer.com/Permian-Express-3/index.html.