Enterprise Products Partners L.P. (NYSE: EPD) today announced an additional expansion of its LPG export terminal located on the Houston Ship Channel that will increase its capability to load fully-refrigerated, low-ethane propane. By enhancing the refrigeration capacity of the LPG export facility, Enterprise will increase its loading capacity by an additional 1.5 million barrels (“MMBbls”), or three cargoes per month. This will increase total design capacity to approximately 9 MMbbls per month upon completion of the expansion project, which is expected to occur in the first quarter of 2015.
Enterprise completed an expansion of its LPG export terminal in March 2013 that increased its propane loading capacity to approximately 7.5 MMBbls per month from 4 MMBbls per month. Since startup, the facility has performed above expectations and currently is loading more than 8.0 MMBbls per month of fully-refrigerated, low-ethane propane. It is expected to continue to perform at this level as production of NGLs from domestic shale plays increases and demand for propane as a feedstock for global ethylene crackers continues to grow.
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 and storage; LPG import and export terminals; crude oil and refined products transportation, storage and terminals; offshore production platforms; petrochemical transportation and services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems and in the Gulf of Mexico. The partnership’s assets include approximately 50,000 miles of onshore and offshore pipelines; 200 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. Additional information regarding Enterprise can be found on its website, www.enterpriseproducts.com.
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.
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