Plains All American today announced it would build a $900 million, 440-mile pipeline to deliver sweet crude from Cushing, Okla., to Valero’s Memphis refinery. The 200,000-barrel-per-day Diamond pipeline would provide Plains the ability to access Valero’s Collierville, Tenn., pipeline. Plains secured a long-term shipping agreement and a storage and terminal services contract with Valero, which has the option to become a 50% partner in the pipeline. The project is expected to be complete in late 2016.
SEE ALSO: Blueknight Energy Partners to build $300M east Texas oil pipeline
