HOUSTON--(BUSINESS WIRE)--Sep. 10, 2018--
Enterprise Products Partners L.P. (NYSE: EPD) today announced that
construction is under way to increase loading capacity for liquefied
petroleum gas (“LPG”), primarily propane and butane, at the Enterprise
Hydrocarbon Terminal (“EHT”) by 175,000 barrels per day (“BPD”), or
approximately 5 million barrels per month. The expansion will bring
total LPG export capacity at EHT to 720,000 BPD, or approximately 21
million barrels per month.
Upon completion of this expansion project, EHT will have the capability
to load as many as six Very Large Gas Carrier (“VLGC”) vessels
simultaneously, while maintaining the option to switch between propane
and butane loadings. Once operational, the expansion will allow EHT to
load a single VLGC in less than 24 hours, creating greater efficiencies
and cost savings for customers. The incremental capacity is expected to
be available in the second half of 2019.
“Enterprise is already the largest exporter of propane in the world and
this expansion project will increase our ability to export LPGs from the
EHT facility by another 30 percent with nominal capital investment,”
said A.J. “Jim” Teague, chief executive officer of Enterprise’s general
partner. “Domestic production of hydrocarbons continues to exceed
expectations and U.S. demand. U.S. LPG production currently exceeds U.S.
demand by over one million barrels per day and domestic export terminals
are approaching full utilization. We estimate that U.S. LPG production
could increase by up to an additional 1.5 million barrels per day by
2025. Without access to international markets, excess LPG supplies would
lead to a curtailment in U.S. crude oil and natural gas production
growth. Marine terminal expansions like ours will be essential to
balancing the market and meeting growing global demand for U.S.
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
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.
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Source: Enterprise Products Partners L.P.
Enterprise Products Partners L.P.
713-381-6812 or 866-230-0745