The Plug Is Pulled On The Liberty Pipeline Project

Time to read
less than
1 minute
Read so far

The Plug Is Pulled On The Liberty Pipeline Project

Wed, 04/14/2021 - 12:04
Posted in:
0 comments
Phillips 66 logo on a smartphone screen (copyright by Shutterstock/rafapress)
Phillips 66 logo on a smartphone screen (copyright by Shutterstock/rafapress)

It is a year since the Houston based Phillips 66 consortium suspended the Liberty Pipeline project. It was not alone, for much of America’s oil and gas sector, ruthlessly cut new capital spending in response to Covid’s global suppression of demand for oil. A press statement dated 5th April from the consortium announced an impairment of between $180 million and $210 million in the first quarter for pulling the plug.

Had the 700-mile-long Liberty pipeline been completed it would have transported light crude oil from the Rockies and Bakken production areas in Guernsey, WY to the Cushing oil hub, Oklahoma. It would also have connected with a proposed oil terminal at Platteville in Colorado. This cancellation is no surprise since in October 2020, the Phillips 66 consortium cancelled the Red Oak pipeline project designed to link Cushing to Texan refineries alone the Gulf Coast.
The Liberty Pipeline project was a joint venture between Phillips 66 Partners’, Bridger Pipeline and its parent True Companies. S&P Global reports that Bridger Pipeline is exploring alternative solutions with its new partner Tallgrass Energy.

Spare pipeline capacity together with President Biden’s ongoing environmental reviews has raised doubts as to the viability of many proposed pipelines.

Add new comment

The content of this field is kept private and will not be shown publicly.

Text only

  • No HTML tags allowed.
  • Lines and paragraphs break automatically.
  • Web page addresses and email addresses turn into links automatically.
CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.