Enterprise Expands Marine Terminal on the Houston Ship Channel
April 11 2018 - 4:20PM
Business Wire
Enterprise Products Partners L.P. (NYSE: EPD) today announced
that the company has purchased a 65-acre waterfront site on the
Houston Ship Channel that will serve as the next phase of expansion
at the Enterprise Hydrocarbon Terminal (“EHT”). Located immediately
to the east of EHT, the property features two existing docks,
dredging infrastructure that will be utilized for maintenance and
dock expansion at the site, and land for significantly expanding
Enterprise’s marine terminaling capabilities. Future plans include
construction of at least two deepwater docks capable of
accommodating Suezmax vessels.
“As one of the last waterfront properties for sale adjacent to
our existing ship channel assets, this strategic acquisition
complements our world-class EHT marine terminal and strengthens our
position as an industry leader in providing waterborne access,”
said A.J. “Jim” Teague, chief executive officer of Enterprise’s
general partner. “The growth opportunities available at the 65-acre
site enhance our ability to accommodate growing U.S. hydrocarbon
production which is increasingly destined for global markets.”
Combined with the EHT complex, the newly acquired assets will be
part of Enterprise’s premier Gulf Coast network of marine terminals
that includes 18 ship docks, and eight barge docks. In addition,
Enterprise’s Gulf Coast infrastructure system features access to
approximately 125 pipelines, 400 million barrels of storage and
every refinery in the Houston, Beaumont, Port Arthur and Texas City
region, representing more than 4 million barrels per day of
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 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 50,000 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: https://www.businesswire.com/news/home/20180411006295/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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