From Sunoco Logistics Partners LP on Wednesday:
HILADELPHIA, December 4, 2013 – Sunoco Logistics Partners L.P. (NYSE: SXL) today announced that it will commence a binding Open Season for its Mariner East 2 project.
This Open Season is for a pipeline that will transport natural gas liquids from processing facilities built in the liquid-rich Marcellus and Utica Shale areas in Western Pennsylvania, West Virginia and Eastern Ohio to Sunoco Logistics’ Marcus Hook Industrial Complex on the Delaware River, approximately 300 to 400 miles from the production region.
The Mariner East 2 pipeline is expected to be operational in early 2016.
“We are pleased to launch the Open Season for Mariner East 2,” said Michael J. Hennigan, president and chief executive officer. “We are bullish on the production growth from the Marcellus and Utica shales. We are proceeding with the Open Season as we have received considerable market interest to develop this project to provide producers with several marketing options for their expanding production.
"We believe the market is long NGLs as the supply will continue to outpace demand. As a result, Mariner East 2 would provide the highest value option for producers in this region as an export solution on the East Coast. We will continue to add storage and expand our Marcus Hook complex to be a world-class NGL facility on the East Coast. In addition, the 800-acre Marcus Hook site is well positioned for furtherNGL processing.”
The Open Season will commence on December 4, 2013. Subject to the terms of the Open Season, priority firm service will be available to shippers making long-term volume commitments during the Open Season. The Notice of Open Season will be available on the Sunoco Logistics website at www.sunocologistics.com/marinereast2.
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