Enterprise to Locate Ethane Export Terminal on the Houston Ship Channel
June 11 2014 - 4:30PM
Business Wire
Enterprise Products Partners L.P. (NYSE: EPD) announced today
that it will build its recently announced ethane export facility on
the Houston Ship Channel. Enterprise has signed a 30-year agreement
with the Port of Houston Authority for use of facilities adjacent
to the partnership’s existing Morgan’s Point terminal.
Enterprise also plans to construct a pipeline from its Mont
Belvieu, Texas natural gas liquids fractionation and storage
complex, providing direct access to ethane supply. As designed, the
export terminal will have the capability to load fully refrigerated
ethane at approximately 10,000 barrels per hour.
The facility is expected to begin operations in the third
quarter of 2016. Enterprise has long-term contracts in place to
support the terminal and is in discussions with other potential
customers for the remaining capacity.
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; 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
Enterprise Products Part... (NYSE:EPD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Enterprise Products Part... (NYSE:EPD)
Historical Stock Chart
From Apr 2023 to Apr 2024