Plains All American Pipeline Nearing Completion of New Crude Oil Storage Tanks with More on the Way

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Plains All American Pipeline LP (PAA) (NYSE:PPA) (Houston Texas) is nearing the completion of its phase IV expansion at its Cushing, Oklahoma crude oil storage terminal (PEC 08000988). PAA awarded the construction contract for the $10 million phase IV expansion to Matrix Service Company (Nasdaq:MTRX) (Tulsa, Okalahoma) in late 2003 and began construction on the four new 250,000-barrel capacity tanks in November of the same year. PAA expects to have all four crude oil storage tanks in commercial service in the next 30 - 45 days. When completed the phase IV expansion will increase the crude storage capacity of the Cushing terminal to approximately 6.3 million barrels of storage and the terminal will be capable of handling 800,000 barrels of crude per day.

PAA is currently mulling over plans for a Phase V expansion (PEC 09000917) to the Cushing terminal (Plant 1009085). The scope of phase V is expected to include four new 275,000 barrel-crude oil storage tanks and expansions to its existing manifold and pumping systems. Construction could begin as early as the second quarter of 2006 with completion in early 2007.