Enterprise Products Completes Final Phase of LPG Export Terminal Expansion
December 30 2015 - 12:00PM
Business Wire
Enterprise Products Partners L.P. (NYSE:EPD) today announced
that the partnership has increased the loading rate at its
liquefied petroleum gas (“LPG”) export terminal on the Houston Ship
Channel from 16,500 barrels per hour (“BPH”) to approximately
27,500 BPH of capacity. The incremental capacity was achieved
through the completion of a new refrigeration train that increases
loading capabilities at the terminal from 9 million barrels
(“MMBbls”) per month to 16 MMBbls per month of LPG, which equates
to a total of approximately 29 vessels per month.
“This terminal serves as the premier LPG export facility in the
U.S. and the timing of these expansion projects could not have been
better,” said A.J. “Jim” Teague, chief operating officer of
Enterprise’s general partner. “In addition to meeting the growing
international demand for price-advantaged, domestic LPG, the
terminal also benefits producers by providing market access and
facilitating continued development of U.S. energy supplies.”
The LPG terminal expansion is among $7.8 billion in capital
growth projects Enterprise expects to complete and bring into
service by the end of 2017. These projects, which are supported by
long-term contracts, are primarily focused on meeting the needs of
demand-side customers, such as petrochemical plants, refineries and
international businesses.
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/20151230005367/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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