Plains All American Plans to Construct a New Crude Oil Storage Terminal in Illinois

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Researched by Industrial Info Resources (Sugar Land, Texas). Plains All American Pipeline, LP (NYSE:PAA)(Houston, Texas) is planning to construct a new crude oil storage terminal in Patoka, Illinois, as part of a $500 million 2007 expansion capital program. The new $77 million terminal will have a crude oil storage capacity of approximately 2.6 million barrels and will be located on 120 acres of land sited near the Patoka interchange. To connect the terminal with local crude oil pipelines, Plains All American also plans to construct several pipeline laterals totaling approximately ten miles supported by multiple 1,500 horsepower electric-drive pump packages to be installed at the new Patoka terminal.

Plains All American has awarded the E+P+C (engineering, procurement and construction) contract for the storage portion of the project to Matrix Service Company (NASDAQ:MTRX)(Tulsa, Oklahoma). The contract includes the construction of two 275,000-barrel and three 573,000-barrel capacity storage tanks and several tanks of smaller sizes. Plains All American expects to spend approximately half of the $77 million in 2007 with the remainder to be invested in 2008. Plains All American expects to begin construction on the new Patoka crude oil storage terminal in March of 2007, with completion and in-service date targeted for the second half of 2008.

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