Enterprise Evaluating Potential Curtailment of Mont Belvieu NGL Fractionation & Storage Services
August 31 2017 - 1:15PM
Business Wire
Enterprise Products Partners L.P. (NYSE: EPD) announced today
that while the partnership sustained minor damage to its assets on
the U.S. Gulf Coast, due to the cumulative effects of the impacts
of Hurricane Harvey, Enterprise is evaluating the potential
curtailment of natural gas liquid (“NGL”) fractionation and storage
services at its Mont Belvieu complex.
The impacts from Hurricane Harvey include, but are not limited
to, the limitation of critical services provided by third parties,
such as nitrogen supplies, flooding, and access to facilities.
These impacts are exacerbated by the disruptions to energy demand
caused by Hurricane Harvey's effects on refineries and
petrochemical facilities on the U.S. Gulf Coast and the closure of
all ports on the Texas Gulf Coast, which limit access to export
markets.
The cumulative effect of these issues has caused brine
containment issues and a reduction of fractionation capacity at
Enterprise's Mont Belvieu complex. As a result, without relief from
these difficulties, Enterprise is evaluating the curtailment of NGL
fractionation and storage services. Enterprise will provide a
periodic update of this situation as factors warrant.
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 50,000 miles of pipelines; 260 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/20170831006077/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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