Approval of PTEP ownership change sought

BP Transportation (Alaska) Inc. bought a 32 percent interest in the Point Thomson Export Pipeline from ExxonMobil Pipeline Co. in late 2012 and in early 2013 PTE Pipeline and BPTA applied to the Regulatory Commission of Alaska to connect PTEP to the Badami Pipeline System.

The companies are the largest owners of the Point Thomson unit, operated by ExxonMobil.

While the new PTEP LLC ownership, ExxonMobil Pipeline Co. 68 percent and BTPA 32 percent, was noted in the 2013 application, the companies told RCA that “Through a regrettable oversight” they did not file for approval of the transfer of ownership. Correcting that oversight, the companies filed the appropriate paperwork Aug. 27, asking the commission for “summary approval” of the transfer of ownership.

The request for the summary approval is appropriate, the companies said, because “it does not involve a substantial change in ownership.” ExxonMobil remains the majority owner of PTEP “and approval of BPTA’s acquisition of a minority ownership interest will not affect the current management, personnel, equipment or daily operation of the PTEP except to the extent of BPTA’s participation in the oversight and management of PTEP LLC as a minority owner,” the companies said.

The initial production system at Point Thomson is expected to begin operation in 2016.

- KRISTEN NELSON