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 November 9, 2015 - 4:30 PM EST
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Enterprise Signs Additional Long-Term Contract for Ethane Export Facility

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.

Enterprise Products Partners L.P.
Randy Burkhalter, (713) 381-6812 or (866) 230-0745
Investor Relations
or
Rick Rainey, (713) 381-3635
Media Relations


Source: Business Wire (November 9, 2015 - 4:30 PM EST)

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