$2 billion gas pipeline coming to Coastal Bend

(KIII NEWS) CORPUS CHRISTI, TEXAS - A new natural gas pipeline is making it's way to the Coastal Bend and is estimated to cost $2 billion. 
 
Houston based company, Permico Energia announced that the pipeline would span 510 miles and would connect to the Permian Basin.
 
A fractionator plant is expected to be built somewhere in the area to separate the natural gas into ethane, propane, and butane.
 
A location for the plant has not been reveled as negotiations to buy the land are still underway. 
 
Once construction is complete the plant is expected to employ up to 100 people ranging from field workers, managers and executives. 
 
A 350 mile transport system will also be included that will allow for the oil to reach other markets along the Gulf Coast. 
 
Construction is expected to begin sometime in 2018 and is expected to turn out 300,000 barrels per day once operation begins in 2020.
 
Funding has been secured by South Korean investment banking and pension fund institutions. 

© 2017 KIII-TV


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