Enterprise Products Partners L.P. (NYSE: EPD) today announced it has begun construction of a new natural gas liquids (“NGL”) fractionator adjacent to its Mont Belvieu, Texas complex. The new unit will have a nameplate capacity of 150,000 barrels per day (“BPD”), giving Enterprise 905,000 BPD of fractionation capability in the Mont Belvieu area, and approximately 1.4 million BPD companywide. The fractionator is scheduled to begin service in the first quarter of 2020.
“The addition of our newest fractionator will facilitate continued NGL production growth, including from the Permian Basin where NGL volumes are expected to more than double over the next four years,” said A.J. “Jim” Teague, chief executive officer of Enterprise’s general partner. “This new fractionator will supply NGL products for the expanding petrochemical industry on the U.S. Gulf Coast as well as growing global demand for NGLs.”
Teague added that the Permian Basin and the Eagle Ford account for approximately 70 percent of the domestic growth in NGLs. The new fractionator is supported by long-term customer agreements.
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.
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 Products Partners L.P. 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 Products Partners L.P. 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 Products Partners L.P. does not intend to update or revise their forward-looking statements, whether as a result of new information, future events or otherwise.
Copyright Business Wire 2018