Enterprise Products Begins Exporting Refined Products from Beaumont Marine Terminal
May 20 2014 - 7:30AM
Business Wire
Enterprise Products Partners L.P. (NYSE: EPD) announced today
that it has loaded the first cargo of refined products for export
from its reactivated marine terminal in Beaumont, Texas. Located on
the Neches River, the terminal can load at rates up to 15,000
barrels per hour. The facility includes a dock with a 40-foot draft
that can accommodate Panamax size vessels that have a capacity of
up to 400,000 barrels (“Bbls”). The terminal has access to more
than 12 million Bbls of refined products storage and receives
products from eight refineries, representing approximately 3.3
million barrels per day (“BPD”) of capacity, as well as the
Colonial Pipeline.
The improvements and modifications required to resume operations
at the terminal, which included dredging, new pipeline
construction, and the installation of new loading arms and vapor
recovery systems, are supported by shipper commitments. Future
plans for the Beaumont refined products terminal include the
addition of a second dock and significant on-site storage for
blending components. With its strategic location and enhanced
capabilities, the Beaumont marine terminal provides greater
optionality for customers, allowing them to capture added value
from the evolving fundamentals of the domestic and international
refined products markets.
“A dramatic increase in domestic crude oil production, driven by
the shale revolution, combined with lower domestic demand for motor
gasoline and expanded refining capacity along the Gulf Coast, has
transformed the U.S. into a net exporter of refined products in
less than seven years,” said A.J. “Jim” Teague, chief operating
officer for Enterprise’s general partner. “By converting our
Beaumont marine terminal, we are able to provide shippers with a
more timely solution that further strengthens the Gulf Coast region
as the primary gateway for refined products exports. Utilizing
existing assets also reflects Enterprise’s commitment to the
efficient use of capital.”
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 (including liquefied
petroleum gas or LPG); 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 51,000 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 RelationsorRick Rainey, (713)
381-3635Media Relations
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