Magellan, Poet form pipeline partnership
May 4, 2009
Magellan Midstream Partners LP and Poet LLC continue to assess the feasibility of constructing a dedicated pipeline to deliver ethanol from Midwest plants to distribution terminals in the Northeast region of the United States.
According to Magellan and Poet, in order for the project to move forward the U.S. DOE's loan guarantee program must be revised. On April 4, the Renewable Fuels Pipeline Act of 2008 was introduced in the U.S. Senate. The bill seeks to amend the Energy Policy Act of 2005 to provide loan guarantees for projects to construct renewable fuels pipelines.
According to Magellan and Poet, in order for the project to move forward the U.S. DOE's loan guarantee program must be revised. On April 4, the Renewable Fuels Pipeline Act of 2008 was introduced in the U.S. Senate. The bill seeks to amend the Energy Policy Act of 2005 to provide loan guarantees for projects to construct renewable fuels pipelines.
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