Phillips 66, Kinder Morgan, HF Sinclair Approve Western Gateway Pipeline Project

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By Reuters

(Reuters) – Phillips 66, Kinder Morgan and ​HF Sinclair said on ‌Tuesday they have finalized a joint venture agreement ​and decided to proceed with ​the proposed $5 billion Western Gateway ⁠Pipeline system.


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Phillips 66 will ​own 49.9% of the joint ​venture, Kinder Morgan 35.1% and HF Sinclair 15%, they added.

Companies have ​been racing to build ​a major new fuel pipeline to ‌the ⁠U.S. West Coast ahead of planned refinery closures in California, a relatively ​isolated ​fuel ⁠market with limited pipeline links to ​major refining hubs that leave ​it ⁠vulnerable to supply disruptions and price spikes.

The project ⁠is expected to ​be completed in ​2029.

Reporting by Pooja Menon in Bengaluru; ​Editing by Jonathan Ananda

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