HOUSTON, TX -- (Marketwire) -- 08/18/08 -- King & Spalding, a leading international lawfirm, advised Enterprise Products Partners L.P., TEPPCO Partners, L.P., andOiltanking Holding Americas, Inc., on their joint venture to build a newoff-shore crude oil terminal in the Gulf of Mexico. The new partnership,known as the Texas Offshore Port System ("TOPS"), will provide refinerswith greater flexibility and enhanced reliability in the face of expectedincreases in ship traffic at onshore ports along the Texas Gulf Coast.In addition to its role as counsel on the joint venture agreement, King &Spalding also advised on two crude oil throughput agreements with customersExxon Mobil Corporation and Motiva Enterprises LLC.
TOPS comprises an offshore port, two onshore storage facilities withapproximately 5.1 million barrels of total crude oil storage capacity, andan associated 160-mile pipeline system with the capacity to deliver up to1.8 million barrels per day (BPD) of crude oil. Service is scheduled tobegin in the fourth quarter of 2010, pending regulatory approval.
William "Pete" Musgrove, a counsel in King & Spalding's Houston office, wasthe lead attorney advising TOPS on this matter. Partner Dan Rogers, counselJohn Crespo and associate Monica Hwang also advised on the matter.
An industry leader in oil and gas matters, King & Spalding assists clientswith oil and gas transactions, cases, arbitrations and other matters,making the firm one of the most active in the arena. The firm has specialexpertise in M&A, international arbitration, royalty and qui tam suits, LNGand gas transactions, as well as in oil field and mass tort litigation.Chambers Global: The World's Leading Lawyers named the firm one of the topenergy and natural resources law firms in the United States.
About King & Spalding
King & Spalding is an international law firm with more than 800 lawyers inAbu Dhabi, Atlanta, Austin, Charlotte, Dubai, Frankfurt, Houston, London,New York, Riyadh (affiliated office), San Francisco, Silicon Valley andWashington, D.C. The firm represents half of the Fortune 100 and in aCorporate Counsel survey in September 2007 was among the top firmsrepresenting Fortune 250 companies. For additional information, visitwww.kslaw.com.
Contact:
Matt Hyams
King & Spalding
Ph. 212.827.4057
Email Contact