Enterprise Completes Final Segment of Aegis Pipeline
December 30 2015 - 12:15PM
Business Wire
Enterprise Products Partners L.P. (NYSE:EPD) today announced it
has completed construction, commissioned, and initiated operation
of the remaining 162-mile portion of the Aegis ethane pipeline from
Lake Charles, Louisiana to the Napoleonville, Louisiana area. The
270-mile, 20-inch diameter Aegis system originates at Mont Belvieu,
Texas, which is the terminus for more than 3 million barrels per
day of natural gas liquids (NGL) supply pipeline capacity, is
connected to more than 2 million barrels per day (“BPD”) of
industry fractionation capacity and is home to more than 110
million barrels of Enterprise-owned storage capacity. Combined with
the partnership’s existing South Texas pipeline network, Aegis is
an integral part of an ethane header system capable of serving more
than 20 petrochemical facilities along the Texas and Louisiana Gulf
Coast.
“We are pleased to complete this final phase of the Aegis ethane
pipeline,” said A.J. “Jim” Teague, chief operating officer of
Enterprise’s general partner. “The Aegis system provides
price-advantaged ethane feedstock and supply flexibility for the
expanding network of petrochemical facilities along a 500-mile
corridor between Corpus Christi, Texas and the Mississippi River.
These facilities are expected to represent more than 90 percent of
domestic ethylene capacity within the next five years.”
The Aegis pipeline project has received strong interest, as
indicated by the success of four open seasons, including the most
recent one held from November 1 to November 30, 2015. Customers
have executed contracts totaling 360,000 BPD that will ramp up over
the next four years. With additional pumps, the pipeline will have
the capacity to transport approximately 400,000 BPD of ethane.
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; 225 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 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20151230005380/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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