While the oil industry continues to face new challenges amidst the coronavirus pandemic, pipeline companies are among those diligently working to develop solutions to help the American energy industry weather the storm.
Last week, pipeline operator Energy Transfer announced it is looking at ways to free up space to store more crude oil in light of reduced demand. As reported by Bloomberg:
The company has identified two pipelines in Texas that would provide about 2 million barrels of additional storage, according to a spokeswoman. Energy Transfer is in the process of asking the Texas Railroad Commission for permission to change the method of operation on these lines.
With approval from the Railroad Commission, it will only be a matter of adding pumps, which can be easily completed and be ready by the middle of May.
Another pipeline operator, Enterprise Products Partners, announced earlier this month it will offer two-way shipping along a crude oil pipeline connecting the Gulf with storage terminals in Cushing, Oklahoma to provide additional storage options.
As Energy Transfer and Enterprise put these plans into action, it is reassuring to see the commitment and ingenuity of the industry during this critical time, further strengthening our oil storage capacity and ensuring American energy dominance is maintained once we emerge from this pandemic.