Enterprise Completes Successful ATEX Open Season
HOUSTON--(BUSINESS WIRE)--Oct 14, 2019--
Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) today announced it will proceed with an expansion of its Appalachia-to-Texas (“ATEX”) ethane pipeline, based on customer commitments received during a recent 30-day binding open season. The 1,200-mile ATEX pipeline transports ethane from the Marcellus/Utica Basin of Pennsylvania, West Virginia and Ohio to Enterprise’s natural gas liquids storage complex in Mont Belvieu, Texas.
“The success of the open season reflects the demand for additional, reliable ethane takeaway capacity from the Appalachian region of the country,” said Michael C. “Tug” Hanley, senior vice president, Pipelines and Terminals for Enterprise’s general partner. “Our customers value flow assurance and reliability. The expansion of ATEX will facilitate growing production from the Marcellus/Utica Basin and will provide access to attractive markets on the Gulf Coast through Enterprise’s integrated midstream network.”
The current capacity of ATEX is approximately 145,000 barrels per day (“BPD”). Enterprise is currently evaluating expansion alternatives that would increase capacity by 45,000 BPD. The incremental capacity is expected to be achieved through improvements and modifications to existing infrastructure. The company anticipates that the incremental capacity will be available by 2022.
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 currently include approximately 50,000 miles of pipelines; 260 million barrels of storage capacity for NGLs, crude oil, petrochemicals and refined products; 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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CONTACT: Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745
Rick Rainey, Media Relations, (713) 381-3635
KEYWORD: UNITED STATES NORTH AMERICA WEST VIRGINIA PENNSYLVANIA OHIO TEXAS
INDUSTRY KEYWORD: OIL/GAS MANUFACTURING ENERGY CHEMICALS/PLASTICS
SOURCE: Enterprise Products Partners L.P.
Copyright Business Wire 2019.
PUB: 10/14/2019 07:30 AM/DISC: 10/14/2019 07:30 AM