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Magellan and TransCanada Set to Build $50M Pipeline to Connect Houston Oil Terminals

Magellan Midstream Partners L.P., January 14, 2016

Magellan Midstream Partners, L.P. and TransCanada Corporation announced today definitive plans to connect TransCanada's Houston tank terminal to Magellan's East Houston terminal. HoustonLink Pipeline Company, LLC, a new company owned 50/50 by Magellan and TransCanada, will construct, own and operate a nine-mile, 24-inch diameter crude oil pipeline connecting the terminals. The new pipeline will provide TransCanada's Keystone and Marketlink customers access to Magellan's Houston and Texas City crude oil distribution system.

The joint project, first announced in April 2015, is estimated to cost approximately $50 million. In addition, Magellan and TransCanada plan to develop additional infrastructure at their respective Houston-area terminals to accommodate shipments from the new pipeline. Magellan will serve as construction manager and operator for HoustonLink.

The HoustonLink pipeline is expected to be operational during the first half of 2017, subject to the receipt of all necessary rights-of-way, permits and regulatory approvals.


About Magellan Midstream Partners, L.P.

Magellan Midstream Partners, L.P. is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. Magellan owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation's refining capacity, and can store more than 95 million barrels of petroleum products such as gasoline, diesel fuel and crude oil. More information is available at www.magellanlp.com.    

About TransCanada Corporation

With more than 65 years' experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and liquids pipelines, power generation and gas storage facilities. TransCanada operates a network of natural gas pipelines that extends more than 68,000 kilometres (42,100 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with 368 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns or has interests in over 11,500 megawatts of power generation in Canada and the United States. TransCanada is developing one of North America's largest liquids delivery systems.


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