Enterprise Signs Additional Commitment for Aegis Ethane Pipeline
July 01 2015 - 4:24PM
Business Wire
Enterprise Products Partners L.P. (NYSE:EPD) today announced it
has executed a long-term agreement for incremental ethane
transportation capacity on the partnership’s Aegis pipeline. With
this agreement, total capacity commitments for the Aegis pipeline
will ramp up over the next four years to more than 300,000 barrels
per day ("BPD").
“Enterprise is very pleased to enter into this agreement and
provide the midstream services necessary to support the continued
growth of the petrochemical industry along the Gulf Coast,” said
Michael A. Creel, chief executive officer of Enterprise’s general
partner.
The Aegis pipeline, which originates at Enterprise’s natural gas
liquids fractionation and storage complex in Mont Belvieu, Texas,
extends 270 miles to Napoleonville, Louisiana. The initial 60-mile
segment between Mont Belvieu and Beaumont, Texas began service in
September of 2014. The remaining portion is scheduled for
completion by the end of 2015. Capacity on the pipeline can be
expanded to approximately 400,000 BPD.
When completed, Aegis will be part of a 500-mile ethane header
system stretching from Corpus Christi, Texas to the Mississippi
River. This header system will serve as a major ethane supply
artery for more than 20 petrochemical facilities expected to
represent over 90 percent of domestic ethylene production capacity
by 2020.
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 51,000 miles
of onshore and offshore 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 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/20150701006593/en/
Enterprise Products Partners L.P.Randy Burkhalter, (713)
381-6812Investor RelationsorRick Rainey, (713) 381-3635Media
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