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Business Wire 1-Aug-2023 5:50 AM
Enterprise Products Partners L.P. (NYSE:EPD) ("Enterprise") today announced the start of service at its 12th natural gas liquids ("NGL") fractionator in Chambers County, Texas, adding an incremental 150,000 barrels per day ("BPD") of nameplate capacity. Supported by long-term customer agreements, the new facility increases Enterprise's NGL fractionation capacity to 1.2 million BPD at the Chambers County complex. Companywide, Enterprise now has approximately 1.7 million BPD of NGL fractionation capacity. The new fractionator is among $3.8 billion of major growth projects beginning service in 2023.
"The addition of our newest fractionator is being driven by growing domestic NGL production in the Permian Basin as new natural gas processing plants are brought online," said A.J. "Jim" Teague, co-chief executive officer of Enterprise's general partner. "We recently began service at our sixth gas processing plant in the Midland Basin, with three other Permian Basin gas plants expected to come online by the end of the first quarter of 2024. On the demand side, the additional volumes will provide much-needed feedstocks for the petrochemical and refining industries, as well as products such as cleaner-burning, reliable propane for export to developing nations globally."
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. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products production, transportation, storage, and marine terminals and related services; and a marine transportation business that operates on key U.S. inland and intracoastal waterway systems. The partnership's assets include more than 50,000 miles of pipelines; over 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. Please visit www.enterpriseproducts.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 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.