Enterprise Signs Additional Long-Term Contract for Ethane Export Facility
November 09 2015 - 4:30PM
Business Wire
Enterprise Products Partners L.P. (NYSE:EPD) today announced it
has executed an additional long-term contract to export ethane from
its new terminal under construction at Morgan’s Point, Texas. With
the additional volumes, Enterprise’s 200,000 barrel-per-day ethane
export terminal is now approximately 90 percent contracted in terms
of operating capacity.
“This agreement is a clear indication of the continued interest
for U.S. ethane as a low cost feedstock by the global petrochemical
industry,” said A.J. “Jim” Teague, chief operating officer of
Enterprise’s general partner. “We are in negotiations with other
customers and expect the remaining capacity to be sold out when the
facility begins service. Furthermore, increased supplies of
domestic ethane should help encourage continued development of
infrastructure in consuming areas abroad, as well as ongoing
expansion of the fleet of transportation vessels.”
The export terminal, which is on schedule to commence operations
in the third quarter of 2016, will have the capability to load
fully refrigerated ethane at rates up to 10,000 barrels per hour.
Supply for the new terminal, located along the Houston Ship
Channel, will be sourced from Enterprise’s natural gas liquids
fractionation and storage complex in Mont Belvieu, Texas and
transported through a 24-inch diameter pipeline currently under
construction.
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/20151109006654/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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