Enterprise and Navigator Begin Service on Houston Ship Channel Ethylene Storage Tank
December 29 2020 - 8:30AM
Business Wire
Enterprise Products Partners L.P. (NYSE:EPD) and Navigator
Holdings Ltd. (NYSE: NVGS) today announced that service has begun
on a new 30,000-ton refrigerated ethylene storage tank at the
ethylene export terminal, which is owned 50/50 by affiliates of the
two companies. Navigator Atlas, a 21,000 cubic meter ethylene gas
carrier, became the first vessel to utilize the new service when it
was loaded at the facility located in Morgan’s Point, Texas on
December 23, 2020. The tank will facilitate faster loading,
increasing efficiency for the terminal’s customers and enabling the
terminal to reach an annual nameplate export capacity of 1 million
tons per year.
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“Our fully commissioned Morgan’s Point ethylene export facility
is the largest and most reliable supply source for waterborne
ethylene in the world,” said A.J. “Jim” Teague, co-chief executive
officer of Enterprise’s general partner. “The terminal is backed by
the supply of the entire U.S. Gulf Coast via our growing ethylene
midstream services, which include our open access storage and
market hub in Mont Belvieu. Our ethylene export, storage, and
transportation services highlight our vision to provide midstream
services for the petrochemicals industry that allow our customers
to focus on their unique competitive advantages in the U.S. and in
growing international markets.”
“The commissioning of the Morgan’s Point terminal in the face of
a yearlong pandemic is testimony to the high-quality talent and
dedicated team assigned to this project. We congratulate all
employees and third-party contractors for the superb job in
completing the export terminal on time and under budget,” said
David Butters, Executive Chairman of Navigator Holdings. “We expect
the terminal to operate at capacity, utilizing Enterprise’s vast
interconnected ethylene platform, and to create strong demand for
Navigator's fleet of specialized ethylene capable vessels.”
The new ethylene storage tank is supplied by a 600 million pound
ethylene storage cavern at Enterprise’s Mont Belvieu, Texas
complex. Enterprise also has the capability to further expand its
underground caverns to accommodate additional ethylene storage.
Ethylene is the primary feedstock for a wide variety of consumer
products, including cell phones and computer parts, food packaging,
apparel, textiles, and personal protective equipment.
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 50,000 miles of pipelines; 260 million
barrels of storage capacity for NGLs, crude oil, refined products
and petrochemicals; and 14 Bcf of natural gas storage capacity.
Please visit www.enterpriseproducts.com for more information.
Navigator Holdings Ltd. is the owner and operator of the world’s
largest fleet of handysize liquefied gas carriers and a global
leader in the seaborne transportation of petrochemical gases, such
as ethylene and ethane, liquefied petroleum gas (“LPG”) and
ammonia. We play a vital role in the liquefied gas supply chain for
energy companies, industrial consumers and commodity traders, with
our sophisticated vessels providing an efficient and reliable
‘floating pipeline’ between the parties. Please visit
www.navigatorgas.com for more information.
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, as well as Navigator 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 and Navigator’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 and Navigator
do 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: https://www.businesswire.com/news/home/20201229005078/en/
Enterprise Contacts Randy
Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745
Rick Rainey, Media Relations, (713) 381-3635
Navigator Contacts Oeyvind
Lindeman, Chief Commercial Officer, +44 (0)20 7340 4575 Niall
Nolan, Chief Financial Officer, +44 (0) 20 7340 4852
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