Enterprise Products Partners L.P. (NYSE:EPD) today announced an expansion of its wholly owned Aegis Pipeline following strong interest from shippers. Long-term agreements have been executed, which support increasing the size of the Aegis pipeline to 20-inches in diameter, which will facilitate delivery of up to 425,000 barrels per day of ethane to the expanding petrochemical corridor along the Gulf Coast. The 270-mile Aegis pipeline will originate at Enterprise’s Mont Belvieu, Texas liquids storage complex and, through connections to other Enterprise-owned pipelines, will deliver purity ethane to ethylene production facilities between Beaumont, Texas and Napoleonville, Louisiana. Aegis will commence service in phases, with initial deliveries expected to begin during the second quarter of 2014.
“Interest continues to build as shippers recognize the value Aegis offers through enhanced flexibility, supply diversification and market access,” said A.J. “Jim” Teague, chief operating officer of Enterprise’s general partner. “As an extension of our midstream network that features access to 100 million barrels of storage capacity at our Mont Belvieu complex, the Aegis pipeline system offers a complete and integrated solution for meeting the needs of both producers and consumers of growing domestic supplies of ethane. Together, Aegis and our South Texas ethane pipeline enable Enterprise to provide ethylene facilities from Corpus Christi to the Mississippi River with reliable supplies of ethane through a header system anchored by our Mont Belvieu complex.”
To accommodate this additional shipper interest, Enterprise is conducting a supplemental open season that begins today at 9 a.m. CDT and will close November 14, 2013 at 5 p.m. CST. Service is being offered in this supplemental open season under substantially similar terms and conditions as previously offered. For commercial inquiries or additional information related to the open commitment period, please contact Russ Kovin at (713) 381-7925 or firstname.lastname@example.org.
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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