Enterprise Begins Service at New Ethane Export Terminal on the Houston Ship Channel; INEOS Vessel First to Be Loaded
September 01 2016 - 12:35PM
Business Wire
Enterprise Products Partners L.P. (NYSE:EPD) today announced
that the first cargo of ethane to be exported from Enterprise’s
Morgan’s Point, Texas terminal has been loaded. The M/V JS INEOS
Intrepid, loaded with approximately 265,000 barrels of ethane, set
sail from the facility this morning en route to the INEOS facility
at Rafnes in Norway. The Morgan’s Point ethane export facility,
which is the largest of its kind in the world, has a design loading
capacity of 10,000 barrels per hour.
The driving force behind development of the terminal is the
growing international demand for abundant U.S. ethane from shale
plays, which offers the global petrochemical industry a low-cost
feedstock option and supply diversification. By providing producers
with access to the export market, the Morgan’s Point terminal is
also facilitating continued development of U.S. energy
reserves.
Supply for the new ethane export terminal is sourced from
Enterprise’s natural gas liquids fractionation and storage complex
in Mont Belvieu, Texas and transported through a new 18-mile,
24-inch diameter pipeline that was completed in February of 2016.
In addition, the Mont Belvieu complex is connected to ethane
production from the Marcellus and Utica Shale regions through the
ATEX pipeline.
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 gathering,
transportation, storage and terminals; petrochemical and refined
products transportation, storage and terminals; and a marine
transportation business that operates primarily on the United
States inland and Intracoastal Waterway systems. The partnership’s
assets include approximately 49,000 miles of pipelines; 250 million
barrels of storage capacity for NGLs, crude oil, refined products
and petrochemicals; and 14 billion cubic feet of natural gas
storage capacity.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160901006123/en/
Enterprise Products Partners L.P.Randy Burkhalter, (713)
381-6812 or (866) 230-0745Investor RelationsorRick Rainey, (713)
381-3635Media Relations
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