WCHE NEWS - Sunoco Logistics Partners yesterday morning held an earnings conference call for investors. As first heard on Frankly Speaking, CEO Mike Hennigan said the premise of the Mariner East pipeline project has always been to supply European ethane crackers with product from its Marcus Hook facility. “That’s been our whole premise behind the Mariner strategy somewhat. I do think there’s going to be a second and a third. I do think that trend is going to continue as European communities see the opportunity with U.S. ethane”. Despite the company’s petitions to the PUC seeking public utility status in order to bypass local regulations, Hennigan told investors that Sunoco stresses partnerships with local municipalities. “It has always been our, and I stress always our, goal to work with landowners, and townships on an individual basis, you know to achieve a satisfactory outcome for everyone. We think it’s a great project and it’s in the public interest”. At no point during the call to investors did Hennigan disclose the PUC administrative law judges’ decision that the project is not a public utility service. Follow @FrankWCHE for all the latest news and information.
Posted on: Fri, 08 Aug 2014 17:30:00 +0000