Seeking Alpha

Magellan Midstream to build $250M splitter on Gulf coast

  • Magellan Midstream Partners (MMP -0.4%) says it plans to build a $250M condensate splitter and infrastructure at its terminal in Corpus Christi, Tex., with commodity trader Trafigura.
  • The splitter is part of a project to build more than 1M barrels of storage, dock improvements and two additional truck bays at MMP’s terminal; the work also will include pipelines connecting the terminal and Trafigura’s nearby facility.
  • The splitter will be a capable of processing 50K bbl/day in condensate crude, with another 50K bbl/day possible if demand warrants it.
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