Enterprise Completes Initial Segment of Aegis Ethane Pipeline
September 29 2014 - 9:19AM
Business Wire
Enterprise Products Partners L.P. (NYSE:EPD) today announced
that construction of the first segment of the Aegis pipeline
between Mont Belvieu and Beaumont, Texas has been completed and is
ready to make ethane deliveries to petrochemical customers. This
60-mile segment of 20-inch diameter pipeline is part of the
270-mile Aegis ethane pipeline that when complete will create a
500-mile header system that stretches from Corpus Christi, Texas to
the Mississippi River in Louisiana. Including Enterprise’s existing
South Texas infrastructure, this system is now in service from
Corpus Christi to Beaumont.
The remainder of the Aegis pipeline will be completed in two
phases. The next segment between Beaumont and Lake Charles,
Louisiana is scheduled to be completed in the third quarter of
2015. The final segment from Lake Charles to the Mississippi River
is expected to be competed by the end of 2015. Aegis will have a
capacity expandable to 425,000 barrels per day (“BPD”).
“The completion of this segment and delivery connection of the
Aegis system represents a major milestone in the development of the
project,” said A.J. “Jim” Teague, chief operating officer of
Enterprise’s general partner. “Combined with our Mont Belvieu
complex, which is the terminus for more than 3 million barrels per
day of NGL supply pipeline capacity, is connected to over 2 million
barrels per day of industry NGL fractionation capacity and more
than 110 million barrels of EPD-owned salt dome storage capacity,
the Aegis system provides unsurpassed flow assurance and market
choices for producers and enhanced reliability and supply choices
for our consuming customers.”
Teague added, “The Aegis header system will be a major ethane
supply artery available to over 20 petrochemical plants that will
be in operation along the U.S. Gulf Coast by 2020. These plants are
expected to represent over 90 percent of domestic ethylene
production capacity by 2020.
The Aegis Pipeline is supported by long-term commitments with
shippers who have executed agreements in excess of 200,000 BPD.
Enterprise continues to receive strong interest for additional
capacity.
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,
713-381-6812Investor RelationsorRick Rainey, 713-381-3635Media
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