Enterprise Products Partners L.P. (NYSE:EPD) today announced that the combined exports and imports of hydrocarbons across its marine terminals, including 18 deepwater docks along the Texas Gulf Coast, totaled a record 146 million barrels on a gross basis during the first quarter of 2017. The previous quarterly record was 136 million barrels in the second quarter of 2016. The loading of natural gas liquids (“NGLs”), crude oil, condensate, refined products and petrochemicals accounted for approximately 62 percent of total marine terminal volumes in the first quarter of 2017.
The following is a breakdown of average daily marine terminal volumes by product in terms of thousand barrels per day (“MBPD”), for the first quarter of 2017 on a gross basis before taking into account our net interest in certain joint ventures:
“Our marine terminals reported a 16 percent increase in gross volumes for the first quarter of 2017 compared to the first quarter of 2016 to a record 146 million barrels, or 1.6 million barrels per day,” said A.J. “Jim” Teague, chief executive officer of Enterprise’s general partner. “Gross NGLs and crude oil marine terminal volumes for the first quarter of 2017 increased by 25 percent and 9 percent, respectively, compared to the first quarter of 2016.”
“Our Enterprise Hydrocarbons Terminal on the Houston Ship Channel, the largest of our marine terminals, accounted for approximately 60 percent, or almost 922 thousand barrels per day, of total volumes handled in the first quarter of 2017. It is well positioned to facilitate the growing global appetite for U.S. produced NGLs, crude oil, condensate, refined products and petrochemicals. With our recent investments in dock expansions, this facility has the capacity to handle up to 2.0 million barrels per day, depending on the mix of hydrocarbon cargoes and imports versus exports,” continued Teague.
“Recently, we believe the Houston Ship Channel has been a victim of erroneous claims of growing congestion. Large vessel traffic on the waterway has essentially been flat since 2012. The Houston Ship Channel has the capability to handle much more deep draft activity as the average daily movements are less than 60 percent of its peak single-day record according to the Greater Houston Port Bureau. When it comes to access to onshore storage facilities, vessel traffic service, two-way traffic, max draft, beam and air draft dimensions, number of pilots and the lack of military and offshore platform limitations, our experience tells us the Houston Ship Channel is the crown jewel of ports on the Texas Gulf Coast, ” said Teague.
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 export and import terminals; crude oil gathering, transportation, storage and export and import terminals; petrochemical and refined products transportation, storage, export and import terminals and related services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems. The partnership’s assets include approximately 49,300 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 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.
Copyright Business Wire 2017