Enterprise to Develop Ethylene Storage and Transportation Projects
April 03 2017 - 8:30AM
Business Wire
Enterprise Products Partners L.P. (NYSE: EPD) today announced
that the company has received customer commitments supporting two
expansion projects that will further develop the partnership’s
ethylene infrastructure. Enterprise is repurposing a large,
high-capacity ethylene storage well at its Mont Belvieu, Texas
complex. Following completion of the project, which is expected as
early as the third quarter of 2018, the 5.3 million barrel cavern
will be able to inject/withdraw ethylene at a rate of 2,000 barrels
per hour (“BPH”), expandable to 4,000 BPH. There are seven third
party ethylene pipelines within two miles of the ethylene well,
providing significant connectivity opportunities into the
high-capacity system.
Further supporting its ethylene capabilities, Enterprise is
building a new 24-mile, 12-inch diameter ethylene pipeline from
Mont Belvieu to Bayport, Texas with the potential to connect both
producing and consuming sites south of the Houston Ship Channel to
Mont Belvieu. The ethylene pipeline will be routed through
Enterprise’s ethane export terminal at Morgan’s Point, which
provides the partnership future flexibility should it develop
ethylene export capabilities at the Morgan’s Point marine
terminal.
“As U.S. ethylene production capacity expands over the next
three years, access to reliable logistics services will be needed,
and Enterprise is ideally positioned to fill the gap,” said R.B.
Herrscher, senior vice president, Petrochemical for Enterprise’s
general partner. “Enterprise has been operating ethylene storage
facilities and pipelines for more than 20 years. These growth
capital projects will expand our ethylene system to meet the
growing needs of the petrochemical industry. These new storage and
transportation assets will also complement our existing
capabilities, giving us the foundation for extending our ethylene
value chain even further.”
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 export and import terminals; crude oil gathering,
transportation, storage, and export and import terminals;
petrochemical and refined products transportation, storage, export
and import terminals and related services; and a marine
transportation business that operates primarily on the United
States inland and Intracoastal Waterway systems. The partnership’s
assets include approximately 49,300 miles of pipelines; 260 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/20170403005166/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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