HOUSTON--(EON: Enhanced Online News)--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.
“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”
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.