Enterprise Products Partners L.P. (NYSE:EPD) today announced that the
partnership plans to expand its butane isomerization facility at its
complex in Mont Belvieu, Texas. This expansion is supported by long-term
agreements to provide butane isomerization, storage and pipeline
services, including a 20-year, 35,000 barrel per day (“BPD”) fee-based,
tolling agreement. Enterprise is currently evaluating two options to
expand its butane isomerization facilities that would add up to 30,000
BPD of incremental capacity.
Enterprise is the largest commercial producer of high-purity isobutane
in the United States. The partnership has 116,000 barrels per day
(“BPD”) of butane isomerization capacity at Mont Belvieu. Its isobutane
system also includes approximately 13 million barrels of aggregate isom
grade normal butane and high-purity isobutane salt dome storage capacity
and 162 miles of distribution pipelines. Butane isomerization is the
process of converting normal butane into high-purity isobutane, which is
used as a feedstock for the petrochemical and refining industries.
“Enterprise has been providing fee-based isomerization services since
1981,” said A.J. “Jim” Teague, chief executive officer of Enterprise’s
general partner. “We are pleased to announce these new long-term
agreements to support another expansion of our facility. We have seen
solid demand growth for high-purity isobutane by the petrochemical and
refining industries. This expansion project is another example of
organic growth generated by our integrated value chain serving both
producers and consumers of NGLs, natural gas and crude oil.”
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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Copyright Business Wire 2018
Source: Business Wire
(January 8, 2018 - 7:30 AM EST)
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