ITC Pipeline Company, LLC announces a binding open season for new pipeline construction routed from a terminal facility in Pasadena, Texas with access to interconnections with numerous petroleum products pipelines also located in Pasadena, Texas.

HOUSTON--()--ITC Pipeline Company, LLC (“ITC Pipeline”) announced today that it has launched an open season for a new petroleum products pipeline system (the “System”) in the City of Pasadena in Harris County, Texas. The System consists of (a) two new 36-inch diameter injecting pipelines and two 16-inch diameter return lines running approximately 1.7 miles between a terminal facility (the “Terminal”) and interconnections with Colonial Pipeline Company and Explorer Pipeline Company, and (b) a new 16-inch diameter pipeline running approximately 3.76 miles between the Terminal and an interconnection near Witter Street, Pasadena, Texas. The System is scheduled to begin service in the third quarter of 2016.

ITC Pipeline is holding this open season to provide potential shippers with the opportunity to make long-term dedication commitments to use the System for the transportation of petroleum products between points on the System. In return, dedicated shippers will receive an incentive tariff rate for the term of their commitments.

The open season will begin at 8:00 a.m. Central Time on May 24, 2016, and will close at 5:00 p.m. Central Time on June 23, 2016. Additional details, including a Notice of Open Season, are available by contacting Harold Thomas at (281) 884-0300, or by accessing the materials at www.itcpipeline.com.

About ITC Pipeline Company, LLC

ITC Pipeline Company, LLC was established in 2014. ITC Pipeline will connect the storage terminal of its affiliate, Intercontinental Terminals Company LLC (“ITC”), located in Pasadena, Texas with multiple petroleum products pipelines serving numerous markets. ITC has a Deer Park, Texas terminal and a Pasadena, Texas terminal that, together with connecting pipelines, including the ITC Pipeline, and other transportation options, create an important link for petrochemical and petroleum exports and imports vital to the region as well as the national industry.

This press release contains forward-looking statements within the meaning of the federal securities laws. These statements are based on certain assumptions made by ITC Pipeline Company, LLC based upon management's experience and perception of historical trends, current conditions, expected future developments and other factors that ITC Pipeline Company, LLC believes are appropriate in the circumstances. These statements include, but are not limited to, statements with respect to forecasts regarding capacity, cash flow, incremental investment and timing for becoming operational for the projects discussed above, as well as ITC Pipeline Company, LLC future growth and results of operations. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of ITC Pipeline Company, LLC, which may cause ITC Pipeline Company, LLC’s actual results to differ materially from those implied or expressed by the forward-looking statements. ITC Pipeline Company, LLC has no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contacts

For inquiries on this matter, please contact:
ITC Pipeline Company, LLC
Harold Thomas, +1 281-884-0300
+1 281-884-0274 (Facsimile)

Release Summary

ITC Pipeline Company, LLC announces a binding open season for new pipeline.

ITC Pipeline Company, LLC