Holly and Sinclair join in $300m products line

09 July 2007 18:06  [Source: ICIS news]

HOUSTON (ICIS news)--Holly Corporation and Holly Energy Partners said on Monday they have entered into a memorandum of understanding with Sinclair Oil to build a $300m refined products pipeline from Salt Lake City, Utah, to Las Vegas, Nevada.

Holly will own a 75% interest and Sinclair will own a 25% interest in the UNEV project.

Holly said the pipeline will be a common carrier system that will offer refiners in the Salt Lake City area, as well as shippers into Salt Lake City on the Pioneer Pipeline, the ability to transport refined products to Las Vegas and the southwest Utah.

The 12-inch line will have an initial capacity of 62,000 bbl/day expandable to 120,000 bbl/day with terminal facilities in the Cedar City, Utah, area and north Las Vegas, according to Holly.

The pipeline and terminals are to be completed at the end of 2008, Holly said. Permit work on the project began in June 2006; it was anticipated that all required permits for the project will be received by April 2008.

By: Brian Balboa
+1 713 525 2653

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