Oak Brook, IL (PRWEB) October 23, 2014
JBBR Pipeline LLC (JBBR Pipeline), a wholly owned subsidiary of CenterPoint Properties, today announced the start of an open season to solicit binding long-term volume commitments from customers for interstate common carrier transportation service on up to ninety percent of the capacity of a new 20-inch diameter, approximately 4 mile crude oil pipeline system (the Pipeline). The Pipeline will transport crude oil from a crude-by-rail off-loading terminal facility to be built, owned and operated by Joliet Bulk, Barge & Rail LLC in Joliet, Will County, Illinois to an interconnection with the Mobil Pipe Line Company’s Mokena-to-Joliet crude pipeline. From there, shippers will have direct access to the ExxonMobil Oil Corporation’s Joliet Refinery. The Pipeline is designed to transport up to 210,000 barrels of crude oil per day and is scheduled to be operational by January 31, 2015.
The open season will begin at 8:00 a.m. Central Time on October 23, 2014 and will close at 5:00 p.m. Central Time on November 21, 2014. The binding open season will allow interested parties to make volume commitments and execute long-term transportation agreements with JBBR Pipeline for transportation on the Pipeline. Shippers electing to make long-term volume commitments to JBBR Pipeline will be eligible to receive priority transportation service at a premium transportation rate for their committed volumes.
Additional details, including a Notice of Open Season, are available by contacting Eric Gilbert at (630) 586-8157 or eric(at)jolietbrt(dot)com or accessing: http://www.centerpoint.com/Infrastructure/JBBROpenSeason.aspx.
About CenterPoint Properties
CenterPoint Properties is focused on the development, acquisition and management of industrial property and transportation infrastructure that enhances business and government supply chain efficiency. The company invests in major coastal and inland port logistics markets anchoring North America’s principal freight lanes. CenterPoint’s portfolio includes 40 million square feet and 6,300 acres under development in the company’s integrated intermodal industrial parks.
For more information on CenterPoint Properties, visit http://www.centerpoint.com or follow @centerpointprop on Twitter.
This press release contains forward-looking statements within the meaning of the federal securities laws. These statements are based on certain assumptions made by JBBR Pipeline based upon management's experience and perception of historical trends, current conditions, expected future developments and other factors that JBBR Pipeline believes are appropriate in the circumstances. These statements include, but are not limited to, statements with respect to forecasts regarding capacity, cash flow, incremental investment and timing for becoming operational for the projects discussed above, as well as JBBR Pipeline’s future growth and results of operations. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of JBBR Pipeline, which may cause JBBR Pipeline’s actual results to differ materially from those implied or expressed by the forward-looking statements. JBBR Pipeline has no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
JBBR Pipeline LLC
1808 Swift Drive
Oak Brook, IL 60523-1501
Telephone: (630) 586-8157
Fax: (630) 586-2357