Enterprise Announces Ninth NGL Fractionator at Mont Belvieu, Texas Complex
September 29 2014 - 9:00AM
Business Wire
Enterprise Products Partners L.P. (NYSE:EPD) announced today
that it will build its ninth natural gas liquid (“NGL”)
fractionator at its complex in Mont Belvieu, Texas. This ninth
fractionator will have a nameplate capacity of 85,000 barrels per
day (“BPD”) and is expected to begin operations as early as January
2016.
Upon completion of the ninth NGL fractionator, Enterprise will
have gross nameplate NGL fractionation capacity of 755,000 BPD at
Mont Belvieu and total gross NGL fractionation capacity of
approximately 1.2 million BPD. Generally, the operating rates for
our Hobbs fractionator and the last five fractionators built at
Mont Belvieu have exceeded nameplate capacity. Enterprise will have
approximately 265,000 BPD of propane production capability at Mont
Belvieu upon the completion of the ninth fractionator.
Enterprise has secured the required permits and emission credits
for both the ninth and a similarly-sized tenth NGL fractionator at
Mont Belvieu. The Mont Belvieu complex is complemented by the
partnership’s network of NGL supply and distribution pipelines,
over 110 million barrels of salt dome storage capacity and access
to international markets through its LPG export facility and ethane
export facility, which is currently under construction.
“We are pleased to announce plans to build a ninth NGL
fractionator at our Mont Belvieu complex,” said Michael A. Creel,
chief executive officer of Enterprise’s general partner. “This
ninth NGL fractionator is not only needed to facilitate long-term
NGL supply growth driven by the shale plays, it will also support
increasing domestic and international demand. This fractionator
secures incremental supplies of ethane for our Aegis pipeline and
ethane export facility as well as low-ethane propane for our LPG
export facility.”
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,
storage and 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 52,000 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 and its general partner expect, believe or anticipate
will or may occur in the future are forward-looking statements.
These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from expectations, 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 Enterprise’s reports filed with
the Securities and Exchange Commission. 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 866-230-0745Investor RelationsRick Rainey, 713-381-3635Media
Relations
Enterprise Products Part... (NYSE:EPD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Enterprise Products Part... (NYSE:EPD)
Historical Stock Chart
From Apr 2023 to Apr 2024