New tariff waiver denied for Plains All America's Cactus II pipeline


The Trump administration has rejected a new request to remove import tariffs on steel for Plains All American’s (NYSE:PAA) Cactus II crude oil pipeline system but agreed to lift them on steel for Cheniere Energy’s (NYSEMKT:LNG) Midship natural gas pipeline.

The U.S. Commerce Department denied PAA’s request to waive import tariffs on hundreds of miles of steel pipeline imported from Greece for Cactus II, saying the waiver request was not a “complete submission” – the same reason the DoC cited when it denied Cactus II’s similar request last year.

But the DoC lifted the tariff on pipeline that Cheniere had proposed to import from Canada for its planned 1.4B cf/day Midship natural gas pipeline that would connect Oklahoma to Gulf Coast markets and liquefied natural gas export facilities.

The oil and gas industry has lost the majority of its requests to win exemptions to the 25% steel import tariff announced in March 2018, as the DoC has rejected waivers for 517.6K metric tons of steel while granted waivers for 153.7K mt of steel, Argus reports.





READ SOURCE

READ  Millionaire plumber Charlie Mullins paid himself £3.3m in dividends last year

LEAVE A REPLY

Please enter your comment!
Please enter your name here