Shell Midstream Partners Successfully Completes Zydeco Integrity Work, Expects No Material Impact from FERC Policy Revision

Mar 19, 2018

Houston, March 19, 2018 (GLOBE NEWSWIRE) -- Shell Midstream Partners, L.P. (NYSE: SHLX) has announced the successful completion of the Zydeco integrity project. The pipeline is expected to resume normal operations this week with financial impact materially in line with prior guidance.

“We took pro-active steps to ensure the integrity and reliability of the system well into the future. It was the right thing to do to meet the needs of our customers, investors, and the communities in which we operate” said John Hollowell, CEO Shell Midstream Partners.

Also, the Federal Energy Regulatory Commission (“FERC”) has amended its 2005 Policy Statement for Recovery of Income Tax Costs to no longer allow interstate pipelines owned by master limited partnerships to recover an income tax allowance in the cost of service. Shell Midstream Partners revenue is predominantly driven by contract, index, and market-based rates, and non-jurisdictional assets. This policy change is not expected to have a material impact to earnings.

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