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Peaker Energy received US Commerce backing in 2013 to export condensate: CEO

Washington (Platts)--14 Nov 2014 434 pm EST/2134 GMT


Peaker Energy received legal backing from the US Commerce Department to export processed condensate in September 2013, roughly nine months before Pioneer Natural Resources and Enterprise Products Partners received similar rulings, the company's CEO said Friday.

"We were the first," Matthew Goitia, the CEO of the Houston-based midstream company, said in an interview.

Goitia declined to discuss whether Peaker had exported any processed condensate or whether Peaker had contracted with any companies to export.

"We went a year and a half without the market knowing this," Goitia said. "Our customers like the fact that we don't talk their business."

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He said his company's ruling was similar to those received by Pioneer and Enterprise.

This summer, Enterprise and Pioneer received commodity classification rulings which gave them legal backing to export processed condensate. In those rulings, Commerce's Bureau of Industry and Security ruled that since this condensate was processed through a distillation tower it was no longer subject to US restriction on crude exports.

Commerce officials have said these rulings, as well as all pending rulings and requests before the agency, are confidential.

--Brian Scheid, brian.scheid@platts.com
--Edited by Lisa Miller, lisa.miller@platts.com




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