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.
Enterprise Products Partners L.P. (NYSE:EPD) today announced the company has loaded its first two vessels with polymer grade propylene ("PGP") for export at the Enterprise Hydrocarbons Terminal ("EHT") along the Houston Ship Channel, adding a new service at this facility. The company is expecting an increase in the number of PGP export cargoes in response to the growing international demand. The company has the capability to load 5,000 metric tons per day of refrigerated PGP at the EHT dock facilities which are supplied directly by propylene fractionators and storage wells at Enterprise's Mont Belvieu, Texas complex. "Our EHT facility provides us with the enhanced efficiency and additional capacity we need to meet the increased demand from our customers looking to export PGP, which is price advantaged due to the shale revolution," said A.J. "Jim" Teague, chief executive officer of Enterprise's general partner. "With the addition of our 1.65 billion pound PDH plant, which is scheduled to begin service in the second quarter of 2017, Enterprise will have the capability to produce 7.5 billion pounds of propylene per year, sufficient to meet the needs of our domestic and international customers." Enterprise has recently made enhancements to its pipeline and rail infrastructure to facilitate delivery of refinery grade propylene ("RGP") to its fractionation facilities. RGP, a mixture of propane and propylene, is separated into PGP. 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; 250 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity.