November 16, 2015 - 7:30 AM EST
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Enterprise Signs Additional Long-Term Contracts for LPG Export Capacity

Enterprise Products Partners L.P. (NYSE:EPD) today announced it has executed additional long-term contracts with customers to export approximately 125 million aggregate barrels of liquefied petroleum gas (“LPG”) over a seven-year period from its terminal along the Houston Ship Channel. Including the volume associated with these agreements, Enterprise’s LPG export facility is now over 90 percent subscribed, in terms of estimated operating capacity, through 2019.

“As the U.S. has become the largest exporter of LPG in the world, our customers have come to appreciate even more our 30 years of experience and the reliability and efficiency of our dock operations,” said A.J. “Jim” Teague, chief operating officer of Enterprise’s general partner. “The value of our export terminal to customers is highlighted even further when you consider that the majority of the capacity is under contract as far out as 2022. Given the surplus of domestic LPG, Enterprise’s export terminal plays a central role in promoting continued development of U.S. energy reserves.”

Enterprise is nearing completion of a series of expansions at the terminal designed to accommodate the growing demand for export capacity. During the first quarter of 2015, the company increased its loading rate to more than 16,000 barrels per hour (“BPH”), or 9 million barrels (“MMBbls”) per month. By the end of 2015, Enterprise expects to complete the final phase, which will increase loading rates at the terminal to more than 27,000 BPH. Once the final expansion phase has been completed, Enterprise will have the capacity to load up to 16 MMBbls per month of LPG, which equates to approximately 29 vessels per month.

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.
Investor Relations
Randy Burkhalter, 713-381-6812 or 866-230-0745
Media Relations
Rick Rainey, 713-381-3635

Source: Business Wire (November 16, 2015 - 7:30 AM EST)

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