Risks and burdens of joint-venture pipeline projects need to be managed and mitigated with fully termed project agreements addressing the potential problems involved in pursuing a project with partners. Reaching such agreements may require additional time on the front end, but this investment will pay off in greater internal efficiency as the project proceeds.BackgroundJVs have emerged as the most recent trend for development of new pipeline projects. Companies pursue JVs because the benefits of shared risks and combined resources are attractive. These benefits often cannot be replicated by a company pursuing a pipeline project on its own.JVs have submitted the majority of greenfield pipe...