Shell Pipeline Considers Expanded Pipeline System
HOUSTON, Sept. 14, 2011 /PRNewswire/ -- Shell Pipeline Company LP is considering building a new pipeline segment to move crude from St. James, Louisiana to the Golden Triangle area of Texas ("Westward Ho") thus expanding the system. Shell Pipeline's continued investment in Westward Ho will largely depend upon a favorable response to the Shell Pipeline's Houma-to-Houston pipeline ("Ho-Ho") reversal solicitation of interest that closes October 17, 2011.
Shell Pipeline's Westward Ho pipeline would create an additional market outlet for the anticipated increase in domestic crude oil production from the deepwater US Gulf of Mexico. For US Gulf of Mexico refiners, this project would enhance access to both the domestic production and the foreign crudes available at St. James, LA. Further, the Westward Ho Pipeline project would complement the new storage and logistics infrastructure that is currently being built in the St. James and Clovelly, LA areas.
The Westward Ho Pipeline would consist of a new pipeline build to connect the Louisiana crude markets with the Texas markets. The Westward Ho Pipeline would be a batched system and could enable the distribution of approximately 900,000 bbls per day of crude across the region depending upon crudes types shipped. Subject to customer commitments and regulatory approval, the Westward Ho Pipeline is expected to begin service by early 2015.
For commercial inquiries about the Westward Ho Pipeline project or the Ho-Ho pipeline system reversal project, please contact: Geoffrey Gauthier at 713.241.9749 or [email protected] at Shell Pipeline Company LP.
About Shell Pipeline Company LP: For more than 80 years, Shell Pipeline Company LP has helped meet America's energy needs. We transport more than 2 billion barrels of crude oil and refined products annually through thousands of miles of pipelines located in seven states.
We carry more than 50 different kinds of crude oil and more than 20 different grades of gasoline, as well as diesel fuel, jet fuel, chemicals, ethylene and natural gas liquids – products that are fundamental to the American way of life.
As a wholly owned subsidiary of Shell Oil Products US, a unit of Shell Oil Company, we're part of one of the world's leading energy companies, which has been a prominent participant in America's energy industry for a century. With our integrated network of trunk lines, distribution systems, interconnects and terminals, we operate safely, efficiently and dependably – key factors in keeping the commodities we carry more affordable for the people who count on them.
Cautionary Note
The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate entities. In this press release "Shell," "Shell group" and "Royal Dutch Shell" are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words "we", "us" and "our" are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies. ''Subsidiaries," "Shell subsidiaries" and "Shell companies" as used in this press release refer to companies in which Royal Dutch Shell either directly or indirectly has control, by having either a majority of the voting rights or the right to exercise a controlling influence. The companies in which Shell has significant influence but not control are referred to as "associated companies" or "associates" and companies in which Shell has joint control are referred to as "jointly controlled entities." In this press release, associates and jointly controlled entities are also referred to as "equity-accounted investments." The term "Shell interest" is used for convenience to indicate the direct and/or indirect (for example, through our 34% shareholding in Woodside Petroleum Ltd.) ownership interest held by Shell in a venture, partnership or company, after exclusion of all third-party interest.
This press release may contain forward-looking statements concerning the financial condition, results of operations and businesses of Royal Dutch Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Royal Dutch Shell to market risks and statements expressing management's expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as ''anticipate," ''believe," ''could," ''estimate," ''expect," ''intend," ''may," ''plan," ''objectives," ''outlook," ''probably," ''project," ''will," ''seek," ''target," ''risks," ''goals," ''should'' and similar terms and phrases. There are a number of factors that could affect the future operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements that may be included in this press release, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for the Group's products; (c) currency fluctuations; (d) drilling and production results; (e) reserve estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory developments including potential litigation and regulatory effects arising from recategorisation of reserves; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; and (m) changes in trading conditions. All forward-looking statements contained in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional factors that may affect future results are contained in Royal Dutch Shell's 20-F for the year ended December 31, 2008 (available at www.shell.com/investor and www.sec.gov). These factors also should be considered by the reader. Each forward-looking statement speaks only as of the date of this press release, September 14, 2011. Neither Royal Dutch Shell nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this press release.
The United States Securities and Exchange Commission (SEC) permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release that SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov. You can also obtain these forms from the SEC by calling 1-800-SEC-0330.
SOURCE Shell Pipeline Company LP
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