Enterprise Products Partners L.P. (NYSE:EPD) today announced it has
completed construction, commissioned, and initiated operation of the
remaining 162-mile portion of the Aegis ethane pipeline from Lake
Charles, Louisiana to the Napoleonville, Louisiana area. The 270-mile,
20-inch diameter Aegis system originates at Mont Belvieu, Texas, which
is the terminus for more than 3 million barrels per day of natural gas
liquids (NGL) supply pipeline capacity, is connected to more than 2
million barrels per day (“BPD”) of industry fractionation capacity and
is home to more than 110 million barrels of Enterprise-owned storage
capacity. Combined with the partnership’s existing South Texas pipeline
network, Aegis is an integral part of an ethane header system capable of
serving more than 20 petrochemical facilities along the Texas and
Louisiana Gulf Coast.
“We are pleased to complete this final phase of the Aegis ethane
pipeline,” said A.J. “Jim” Teague, chief operating officer of
Enterprise’s general partner. “The Aegis system provides
price-advantaged ethane feedstock and supply flexibility for the
expanding network of petrochemical facilities along a 500-mile corridor
between Corpus Christi, Texas and the Mississippi River. These
facilities are expected to represent more than 90 percent of domestic
ethylene capacity within the next five years.”
The Aegis pipeline project has received strong interest, as indicated by
the success of four open seasons, including the most recent one held
from November 1 to November 30, 2015. Customers have executed contracts
totaling 360,000 BPD that will ramp up over the next four years. With
additional pumps, the pipeline will have the capacity to transport
approximately 400,000 BPD of ethane.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151230005380/en/
Copyright Business Wire 2015