Bring a stable supply of products
NuStar CEO Brad Barron called the planned venture “an ideal partnership” that will bring a stable supply of products to meet significant demand in Mexico.
He added that the joint venture “is an outstanding growth opportunity for NuStar,” and should immediately boost the earnings of both companies once the project goes into service.
The pipeline and related infrastructure will meet northern Mexico's growing demand for liquefied petroleum gases (LPG) and fuels, Carrera said.
NuStar and PMI will jointly pay for construction of new pipeline and storage assets, and NuStar would manage construction and operation of the system.
LPGs and refined products will be delivered from Mont Belvieu and Corpus Christi to Nuevo Laredo and Burgos-Reynosa, Mexico, the companies said.