September 12, 2018 - 9:20 AM EDT
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MarkWest Liberty NGL Pipeline LLC announces binding open season

FINDLAY, Ohio, Sept. 12, 2018 /PRNewswire/ -- MPLX LP (NYSE: MPLX) today announced that its subsidiary, MarkWest Liberty NGL Pipeline, L.L.C., has launched a binding open season to solicit commitments from potential shippers for a new pipeline it plans to construct to serve the growing needs of Appalachian producers. Once complete, the pipeline will provide transportation services of a mixed stream of natural gas liquids (NGLs) – including propane, normal butane, isobutane, pentanes and higher molecular-weight hydrocarbons – from natural gas processing plants located in West Virginia and Pennsylvania to fractionation facilities located in Ohio and Pennsylvania. 

Shippers electing to make long-term volume commitments to the project during the open season will be eligible to receive firm service for their committed volumes. The binding open season will commence today and is scheduled to conclude at 8 p.m. Eastern Time on Oct. 12, 2018.

For additional information regarding the project, or to obtain a confidentiality agreement, interested shippers should contact:

Andrew Morrison
Managing Counsel
MarkWest Energy Partners, L.P.
1515 Arapahoe Street, Tower 1, Suite 1600
Denver, CO 80202
Office Phone: (303) 925-9207
Email: [email protected]

About MPLX LP

MPLX is a diversified, growth-oriented master limited partnership formed in 2012 by Marathon Petroleum Corporation to own, operate, develop and acquire midstream energy infrastructure assets. MPLX is engaged in the gathering, processing and transportation of natural gas; the gathering,transportation, fractionation, storage and marketing of NGLs; the transportation, storage and distribution of crude oil and refined petroleum products; and the refining logistics and fuels distributions services through a marine fleet and approximately 10,000 miles of crude oil and light product pipelines. Headquartered in Findlay, Ohio, MPLX's assets consist of a network of crude oil and products pipelines and supporting assets, including storage facilities (tank farms) located in the Midwest and Gulf Coast regions of the United States; 62 light-product terminals with approximately 24 million barrels of storage capacity; an inland marine business; storage caverns with approximately 2.8 million barrels of storage capacity; a barge dock facility with approximately 80,000 barrels per day of crude oil and product throughput capacity; tanks with storage capacity of approximately 56 million barrels as well as refinery docks, loading racks and associated piping; and gathering and processing assets that include approximately 5.9 billion cubic feet per day of gathering capacity, 8.7 billion cubic feet per day of natural gas processing capacity and 610,000 barrels per day of fractionation capacity.

This press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements relate to, among other things, statements with respect to forecasts regarding capacity, rates, incremental investment and timing for becoming operational for the opportunities discussed above, as well as MPLX's future growth and results of operations. You can identify forward-looking statements by words such as "anticipate," "believe," "design," "estimate," "expect," "forecast," "goal," "guidance," "imply," "intend," "objective," "opportunity," "outlook," "plan," "position," "pursue," "prospective," "predict," "project," "potential," "seek," "strategy," "target," "could,""may," "should," "would," "will" or other similar expressions that convey the uncertainty of future events or outcomes. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the control of the company and are difficult to predict.Factors that could impact the opportunities described above are: the timing and extent of changes in commodity prices and demand for crude oil, refined products, feedstocks or other hydrocarbon-based products; continued/further volatility in and/or degradation of market and industry conditions; changes to the expected construction costs and timing of projects; completion of pipeline capacity by our competitors; the ability to obtain required regulatory approvals on a timely basis; the occurrence of an operational hazard or unforeseen interruption; and the factors set forth under the heading "Risk Factors" in MPLX's Annual Report on Form 10-K for the year ended Dec. 31, 2017, filed with the Securities and Exchange Commission (SEC). In addition, the forward-looking statements included herein could be affected by general domestic and international economic and political conditions. Unpredictable or unknown factors not discussed here or in MPLX's Form 10-K could also have material adverse effects on forward-looking statements. Copies of MPLX's Form10-K are available on the SEC website, MPLX's website at http://ir.mplx.com or by contacting MPLX's Investor Relations office.

Cision View original content:http://www.prnewswire.com/news-releases/markwest-liberty-ngl-pipeline-llc-announces-binding-open-season-300711196.html

SOURCE MPLX LP


Source: PR Newswire (September 12, 2018 - 9:20 AM EDT)

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