The pipeline project, which is subject to final agreements and any necessary regulatory approvals, would ship mixed NGLs, principally for use as petrochemical feedstock. The project would diversify refining and petrochemical feedstock supply for Nova Chemicals and other potential users in the area and provide producers in the Marcellus basin with take-away capacity for their NGLs to the closest demand center.
Initial service of the union pipeline would be from Pittsburgh, Pennsylvania to the Nova Chemicals Corunna olefins cracker near Sarnia. Buckeye will develop, construct, own, and operate the pipeline and would conduct an open season to solicit additional customer interest in the destination market in Sarnia prior to executing definitive agreements. The company currently owns approximately 5,400 miles of refined products pipelines, with a presence in the Northeastern and Midwestern US.
Nova Chemicals, a wholly owned subsidiary of International Petroleum Investment Company (IPIC), develops and manufactures chemicals, plastic resins and end-products.
