NuStar Energy, PMI Form Pipeline JV

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NuStar Energy LP and PMI announced that the companies have signed a letter of intent for a proposed joint venture (JV) in which the two companies will develop new pipeline infrastructure to transport liquefied petroleum gases (LPGs) and refined products from the U.S. into northern Mexico to meet the region’s growing demand for these products.
  Under the proposed JV, the companies will jointly fund construction of new pipeline and storage assets, and NuStar would manage construction and operation of those assets. LPGs and refined products will be delivered from Mont Belvieu and Corpus Christi, TX, to Nuevo Laredo and Burgos-Reynosa, Mexico.
  The new pipeline and terminal facilities will be integrated with NuStar’s existing pipeline infrastructure. This project will be supported by a throughput commitment from PMI. Based on current projections, the projects are expected to be completed and placed into service in the second half of 2016.