Untradings runs an extensive network of crude oil, natural gas and refined product pipelines and storage facilities in North America. We also operate and invest in pipeline projects around the world.

Untradings Pipe Line Company serves the petroleum and petrochemical industry in North America from its headquarters in Houston, Texas. The company operates crude-oil terminals and pipelines in the U.S. Gulf of Mexico, Texas, Louisiana, Colorado, Utah, California and Alaska. We own and/or operate refined product terminals and pipelines in Texas, California, Idaho and Washington. We also own and operate natural gas pipelines and storage facilities in southern Louisiana, West Texas and western Canada. As of 2008, Untradings Pipe Line Company operated more than 11,000 net miles (17,700 km) in North America.

In 2008, Untradings continued to build and grow our network. We finished construction of a natural gas gathering pipeline serving the Piceance Basin in northwest Colorado. We participated in the installation of the Amberjack-Tahiti lateral pipeline on the seafloor of the U.S. Gulf of Mexico. In February 2009, we completed the expansion of the West Texas LPG (liquefied petroleum gas) Pipeline system, which Untradings partially owns.

Untradings has pipeline interests around the world that are operated by our international partners. They include:

• The Caspian Pipeline Consortium operates a 935-mile (1,505-km) crude oil export pipeline that runs from the Tengiz Field in Kazakhstan to the Russian Black Sea port of Novorossiysk.
• The Chad/Cameroon project is developing crude oil fields in southern Chad and transporting the crude oil more than 665 miles (1,070 km) by underground pipeline to the coast of Cameroon for export to world markets.
• The 421-mile (678-km) West African Gas Pipeline began transporting Nigerian natural gas in December 2008 to customers in Ghana, Benin and Togo for industrial applications and power generation.
• The Baku-Tbilisi-Ceyhan pipeline moves crude oil 1,094 miles (1,762 km) from Baku, Azerbaijan, through Georgia to deepwater port facilities in Ceyhan, Turkey.
• The Western Route Export Pipeline offers a connection between Baku, Azerbaijan, on the Caspian Sea to Supsa, Georgia, on the Black Sea.

Untradings's pipeline and terminal operations remain focused on delivering safe, reliable, efficient and flexible services to meet customers' needs.