|Enterprise and ExxonMobil Chemical Venture Begins Operations At Propylene Unit|
HOUSTON--(BUSINESS WIRE)--Aug. 10, 2000--Enterprise Products Partners L.P. (NYSE:EPD) announced today that Baton Rouge Propylene Concentrator LLC, a joint venture between affiliates of ExxonMobil Chemical Company (a division of Exxon Mobil Corporation) and Enterprise, has commenced commercial operations at its propylene concentration unit. The unit is located in Port Allen, La., across the Mississippi River from ExxonMobil's refinery and chemical plant.
The unit upgrades refinery-grade propylene produced by ExxonMobil Chemical and others into chemical-grade propylene, a basic building block petrochemical used in plastics, synthetic fibers, and foams. The facility has the capacity to produce 1.5 billion pounds (680,000 metric tons) per year of chemical-grade propylene.
An ExxonMobil Chemical affiliate and Enterprise own a 70 percent and 30 percent interest, respectively, in Baton Rouge Propylene Concentrator LLC. Enterprise managed the design and construction of the facility and serves as the operator of the facility.
Enterprise Products Partners L.P. is the second largest publicly traded partnership with an enterprise value of approximately $2.3 billion. Enterprise is a midstream energy service company providing integrated processing, fractionation, transportation, storage and terminalling services to producers and consumers of natural gas liquids (NGLs) and other petroleum liquids. The Company's assets are geographically focused on the United States' Gulf Coast, which accounts for approximately 55% of domestic NGL production and 75% of domestic NGL demand.
This press release includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 based on the beliefs of the company, as well as, assumptions made by, and information currently available to, management. Although Enterprise believes that the expectations reflected in such forward-looking statements are reasonable; it can give no assurance that such expectations will prove to be correct.
CONTACT: Enterprise Products Partners L.P., Houston
Randy Fowler, 713/880-6694
Web site: http//www.epplp.com.