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 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.