Enterprise Completes Second Segment of Aegis Ethane Pipeline
September 02 2015 - 05:00PM
Business Wire
Enterprise Products Partners L.P. (NYSE:EPD) today announced
that construction of the Beaumont, Texas to Lake Charles, Louisiana
segment of the Aegis pipeline is now complete and ready to deliver
ethane to additional Gulf Coast petrochemical facilities. This new
48-mile segment, along with the initial 60-mile segment currently
in service, provides reliable ethane supplies to petrochemical
facilities between Mont Belvieu, Texas and Lake Charles.
The final leg of the 270-mile Aegis system will extend the
pipeline from Lake Charles to the Mississippi River and is expected
to be completed by the end of 2015. Combined with Enterprise’s
existing South Texas system, Aegis will provide shippers with
access to a 500-mile ethane header system between Corpus Christi,
Texas and the Mississippi River in Louisiana. The Aegis pipeline is
supported by customer commitments in excess of 300,000 barrels per
day (“BPD”) that ramp up over the next four years. The capacity of
the pipeline can be expanded to approximately 400,000 BPD with
additional pumps.
“Access to cost-advantaged ethane as a feedstock will be vital
as the petrochemical industry along the Gulf Coast is expected to
grow substantially over the next five years,” said A.J. “Jim”
Teague, chief operating officer of Enterprise’s general partner.
“Aegis will serve as a major ethane supply artery along the Texas
and Louisiana Gulf Coast, which will include approximately 20
petrochemical facilities representing more than 90 percent of the
nation’s ethylene capacity by 2020. Seamless connectivity to our
storage facilities at Mont Belvieu and our existing integrated
midstream network has generated strong customer interest in the
Aegis project.”
Enterprise’s Mont Belvieu complex is the terminus for more than
3 million BPD of natural gas liquids (“NGL”) supply pipeline
capacity, is connected to more than 2 million BPD of industry NGL
fractionation capacity and over 110 million barrels of EPD-owned
salt dome storage capacity. With access to such a comprehensive
network of integrated infrastructure, Aegis offers flow assurance
and market choices to producers while providing consuming customers
enhanced reliability and supply choices.
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; petrochemical
transportation and services; and a marine transportation business
that operates primarily on the United States inland and
Intracoastal Waterway systems and in the Gulf of Mexico. The
partnership’s assets include approximately 49,000 miles of onshore
pipelines; 225 million barrels of storage capacity for NGLs,
petrochemicals, refined products and crude oil; 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20150902006440/en/
Enterprise Products Partners L.P.Randy Burkhalter, (713)
381-6812Investor RelationsorRick Rainey, (713) 381-3635Media
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