Enterprise Products to Build Ethane Export Facility on Texas Gulf Coast
April 22 2014 - 4:15PM
Business Wire
Enterprise Products Partners L.P. (NYSE: EPD) announced today
that it plans to build a fully refrigerated ethane export facility
on the Texas Gulf Coast. Enterprise has executed long-term
contracts to support the development of the facility, which is
designed to have an aggregate loading rate of approximately 10,000
barrels per hour, or up to 240 thousand barrels per day (“MBPD”).
The export facility is expected to begin operations in the third
quarter of 2016.
“We are pleased to announce the successful development of our
fully refrigerated ethane export facility, which will be the
largest in the world,” said Michael A. Creel, chief executive
officer of Enterprise’s general partner. “We continue to receive
strong interest from the international community for this project
and are having ongoing discussions with other potential customers
that could result in our contracting the remaining capacity of the
facility.”
“This facility is another example of Enterprise serving
incremental market demand for growing supplies of U.S. energy. This
is particularly important for ethane, which is a byproduct of
natural gas and crude oil production and has limited uses. We
estimate U.S. ethane production capacity currently exceeds U.S.
demand by 300 MBPD and could exceed demand by up to 700 MBPD by
2020, after considering the estimated incremental demand from new
ethylene facilities that have been announced. By providing new
markets access to ethane, we are assisting U.S. producers to
increase their production, which assures the U.S. will have access
to abundant supplies of domestically produced natural gas and crude
oil,” stated Creel.
The ethane export facility will be integrated with Enterprise’s
Mont Belvieu complex, which includes over 650 MBPD of natural gas
liquid (“NGL”) fractionation capacity and 100 million barrels of
NGL storage capacity. The partnership’s Mont Belvieu facility
receives NGL supplies from the major producing basins across the
U.S. The Mont Belvieu complex is connected to growing supplies of
ethane from the Marcellus and Utica shale regions through
Enterprise’s recently completed ATEX ethane pipeline. Enterprise’s
integrated NGL system will offer supply assurance and
diversification for the export facility.
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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