The potential project would include construction of an approximately 160-mile, 12-inch diameter pipeline capable of transporting 75,000 barrels per day of gasoline, diesel fuel and jet fuel from the partnership's Ft. Smith, Arkansas terminal.
The largest contract, located near Corsicana, Texas, consists of a 100-mile portion of the 500-mile Seaway 30-inch pipeline, which will transport crude oil from the over-supplied Cushing Hub to the Gulf Coast.
Final documentation with the Chinese commercial banks will be executed simultaneously with all of the other lenders participating in project financing of Yamal LNG, including, but not limited to, foreign export credit agencies, international and Russian commercial banks and other financial institutions.
The project, situated offshore near Venice, Louisiana, will include three floating liquefaction units projected to export up to 24 million metric tons per year of liquefied natural gas (LNG), commencing in spring 2018.
Rosneft and ExxonMobil are progressing with a proposed liquefied natural gas (LNG) project on Sakhalin Island in the Russian Far East with the start of the contractor selection process for design and engineering work.