HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) today announced that it expects record propane exports in 2012. The partnership’s exports of propane from its terminal on the Houston Ship Channel were a record 3.9 million barrels in April 2012. As previously announced, Enterprise is in the process of expanding its NGL refrigeration export facility, which will increase its capacity to export propane by up to 3.5 million barrels per month. This will bring the total capacity of the NGL refrigeration export facility to 7.5 million barrels of propane per month. This expansion is ahead of schedule and is expected to be completed in the fourth quarter of 2012.
In response to the current increased demand for propane from international markets, Enterprise has started a debottlenecking project on its existing export facility to increase the partnership’s current propane export capacity by up to an additional 100,000 barrels per month. This modification is expected to be completed by June 30, 2012.
“We continue to see very strong demand for propane exports and have sold out our baseload space for 2012 and 2013, with some contracts extending through 2017,” said A.J. “Jim” Teague, executive vice president and chief operating officer of Enterprise’s general partner. “To meet customer demand, we are committed to finding creative solutions allowing us to load every barrel and utilize every minute available at our dock facilities.”
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. The partnership’s assets include approximately: 50,600 miles of onshore and offshore pipelines; 190 million barrels of storage capacity for NGLs, petrochemicals, refined products and crude oil; and 14 billion cubic feet of natural gas storage capacity. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage, and import and export terminaling; offshore production platform services; crude oil and refined products transportation, storage and terminaling; petrochemical transportation and storage; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems and in the Gulf of Mexico. Additional information is available online at www.enterpriseproducts.com.
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 expects, believes or anticipates will or may occur in the future, including anticipated benefits and other aspects of such activities, events, developments or transactions, are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, 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 the reports filed with the Securities and Exchange Commission by Enterprise. 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.