Enterprise Products Partners LP executed an additional long-term contract to provide ethane storage, transportation, refrigeration and loading services from its ethane export terminal that is currently being built on the Houston Ship Channel. With this agreement, Enterprise has long-term commitments for about 85% of the terminal’s capacity.
“As a result of this agreement, we have commenced evaluation of expansion options at the new ethane terminal,” said A.J. “Jim” Teague, COO of Enterprise’s general partner.
The new ethane export terminal is scheduled for completion in third-quarter 2016 and will be located at Enterprise’s Morgan’s Point facility on the Houston Ship Channel. It will be able to load fully refrigerated ethane at about 10,000 standard barrels per hour. An 18-mile, 24-inch diameter ethane pipeline will be constructed from Mont Belvieu, Texas, to supply the terminal.
Recommended Reading
Petrie Partners: A Small Wonder
2024-02-01 - Petrie Partners may not be the biggest or flashiest investment bank on the block, but after over two decades, its executives have been around the block more than most.
Kissler: OPEC+ Likely to Buoy Crude Prices—At Least Somewhat
2024-03-18 - By keeping its voluntary production cuts, OPEC+ is sending a clear signal that oil prices need to be sustainable for both producers and consumers.
Sunoco’s $7B Acquisition of NuStar Evades Further FTC Scrutiny
2024-04-09 - The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for Sunoco’s pending acquisition of NuStar Energy has expired, bringing the deal one step closer to completion.
The OGInterview: Petrie Partners a Big Deal Among Investment Banks
2024-02-01 - In this OGInterview, Hart Energy's Chris Mathews sat down with Petrie Partners—perhaps not the biggest or flashiest investment bank around, but after over two decades, the firm has been around the block more than most.
Shell’s CEO Sawan Says Confidence in US LNG is Slipping
2024-02-05 - Issues related to Venture Global LNG’s contract commitments and U.S. President Joe Biden’s recent decision to pause approvals of new U.S. liquefaction plants have raised questions about the reliability of the American LNG sector, according to Shell CEO Wael Sawan.