Enterprise to Build Second LPG Export Facility
Enterprise to Build Second LPG Export Facility
HOUSTON--(BUSINESS WIRE)-- Enterprise Products Partners L.P. (NYS: EPD) today announced the construction of a new liquefied petroleum gas (LPG) export terminal on the Gulf Coast. The facility will have the capability of handling up to VLGC (very large gas carriers) class ships. The initial loading rate for export grade propane or butane service is expected to be approximately 11,000 barrels per hour, which would equate to approximately 6 million to 6.5 million barrels per month. Following the completion of the site evaluation at potential locations in Louisiana and Texas, this new LPG marine terminal is expected to be in service in the fourth quarter of 2015. Upon completion of the new terminal, and the recently announced expansion of the partnership's existing terminal on the Houston Ship Channel, Enterprise will have aggregate capacity to load approximately 15 million to 16 million barrels per month of low-ethane propane and/or butane at its LPG marine terminals.
With the development of this second export marine terminal, Enterprise will be able to offer customers unparalleled operational flexibility and reliability. Each of these terminals will have separate, dedicated pipelines that supply LPG from the partnership's large fractionation and storage complex in Mont Belvieu, Texas. This complex includes over 100 million barrels of salt dome storage capacity and, with the completion of the eighth fractionator in the fourth quarter of 2013, more than 650,000 barrels per day of NGL fractionation capacity.
"We are pleased to announce the development of our second LPG export marine terminal on the U.S. Gulf Coast," said Michael A. Creel, chief executive officer of Enterprise's general partner. "The development of the new terminal was driven by continued demand from our international customers for additional supply of propane and butane. These facilities are supported by over 25 customers and associated long-term contracts, some of which extend into 2024. Just as with our other LPG export projects, we expect that the terminal will be operating at or near its capacity upon startup. In addition to the strong demand for our LPG export services, we are also seeing interest in ethane exports. This new LPG marine terminal is designed with the flexibility and footprint to expeditiously add the necessary facilities to provide ethane export services as this market develops. Our Mont Beliveu complex and ATEX and Aegis ethane pipelines would complement the addition of ethane export capabilities at this new site."
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Our services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation and storage; LPG import and export terminals; crude oil and refined products transportation, storage and terminals; offshore production platforms; petrochemical transportation and services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems and in the Gulf of Mexico. The partnership's assets include approximately 50,000 miles of onshore and offshore pipelines; 200 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. Additional information regarding Enterprise can be found on its website, www.enterpriseproducts.com.
This press release includes "forward-looking statements" as defined by the Securities and Exchange Commission. All statements, other than statements of historical fact, included herein that address activities, events, developments or transactions that Enterprise expects, believes or anticipates will or may occur in the future, including anticipated benefits and other aspects of such activities, events, developments or transactions, are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including required approvals by regulatory agencies, the possibility that the anticipated benefits from such activities, events, developments or transactions cannot be fully realized, the possibility that costs or difficulties related thereto will be greater than expected, the impact of competition and other risk factors included in the reports filed with the Securities and Exchange Commission by Enterprise. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Except as required by law, Enterprise does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Enterprise Products Partners L.P.
Randy Burkhalter, 713-381-6812 or 866-230-0745
Rick Rainey, 713-381-3635
KEYWORDS: United States North America Louisiana Texas
The article Enterprise to Build Second LPG Export Facility originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.