Phillips 66, Kinder Morgan, and HF Sinclair have approved and finalized a joint venture for the $5 billion Western Gateway Pipeline project. The Western Gateway Pipeline is planned as a 1,300-mile refined products system, with a design capacity of 230,000 barrels per day. Phillips 66 will own 49.9% of the venture, Kinder Morgan 35.1% and HF Sinclair 15%. Kinder Morgan will similarly reverse its existing pipeline between Colton, California, and Phoenix, Arizona, for the project. Phillips 66 is contributing $2.5 billion in cash, Kinder Morgan $250 million, and HF Sinclair $750 million to the project, which has an overall valuation of $5 billion.