Enterprise Begins Service at New Ethane Export Terminal on the Houston Ship Channel; INEOS Vessel First to Be Loaded
Enterprise Products Partners L.P. (NYSE:EPD) today announced that the
first cargo of ethane to be exported from Enterprise’s Morgan’s Point,
Texas terminal has been loaded. The M/V JS INEOS Intrepid, loaded
with approximately 265,000 barrels of ethane, set sail from the
facility this morning en route to the INEOS facility at Rafnes in
Norway. The Morgan’s Point ethane export facility, which is the largest
of its kind in the world, has a design loading capacity of 10,000
barrels per hour.
The driving force behind development of the terminal is the growing
international demand for abundant U.S. ethane from shale plays, which
offers the global petrochemical industry a low-cost feedstock option and
supply diversification. By providing producers with access to the export
market, the Morgan’s Point terminal is also facilitating continued
development of U.S. energy reserves.
Supply for the new ethane export terminal is sourced from Enterprise’s
natural gas liquids fractionation and storage complex in Mont Belvieu,
Texas and transported through a new 18-mile, 24-inch diameter pipeline
that was completed in February of 2016. In addition, the Mont Belvieu
complex is connected to ethane production from the Marcellus and Utica
Shale regions through the ATEX pipeline.
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;
250 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160901006123/en/
Copyright Business Wire 2016
Source: Business Wire
(September 1, 2016 - 12:35 PM EDT)
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