HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE:EPD) today announced it has purchased three intrastate natural gas liquids (NGL) pipeline systems from Chevron Midstream Pipelines LLC that expand and extend the partnership’s South Louisiana network of midstream infrastructure. Originating from a central point in Henry, Louisiana, the 212 miles of intrastate pipelines extend westward to Lake Charles, northward to Breaux Bridge in St. Martin Parish, and eastward to Napoleonville, Louisiana, where Enterprise’s Promix NGL fractionation and storage facilities are located.
“Reflecting the efficiencies and flexibility of our integrated midstream network, this targeted acquisition enhances our NGL pipeline access to the sizeable refining and petrochemical complex in Lake Charles for a relatively modest capital investment,” said Michael A. Creel, president and chief executive officer for Enterprise. “We are very pleased to work with Chevron to acquire these pipelines, which will also complement our ongoing expansion plans in South Louisiana.”
The extensive network of intrastate pipelines in Louisiana already owned by Enterprise transports NGL products between key supply points, including the partnership’s storage and terminal facilities at Breaux Bridge and its fractionation facilities at Norco, Promix, and Baton Rouge, as well as various markets at Napoleonville, Geismar, and other points along the Mississippi River. In addition to improving the partnership’s Louisiana NGL pipeline system to Lake Charles, the acquisition will increase capacity between Breaux Bridge and Napoleonville. This bi-directional pipeline will not only enhance Enterprise’s ability to move various NGL products to these Louisiana markets, it will also provide additional capacity for delivering Louisiana propane production into the Enterprise-owned Dixie Pipeline system for transportation to end-use markets throughout the southeastern United States or to the partnership’s Mont Belvieu, Texas NGL fractionation complex. Along with the improvements already identified, Enterprise continues to evaluate other potential expansion opportunities resulting from the acquisition.
Enterprise Products Partners L.P. is the largest publicly traded partnership 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: more than 48,000 miles of onshore and offshore pipelines; approximately 200 million barrels of storage capacity for NGLs, refined products and crude oil; and 27 billion cubic feet of natural gas storage capacity. Services include: natural gas transportation, gathering, processing and storage; NGL fractionation (or separation), transportation, storage, and import and export terminaling; crude oil and refined products storage, transportation and terminaling; offshore production platform; 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. For additional information visit www.epplp.com. Enterprise Products Partners L.P. is managed by its general partner, Enterprise Products GP LLC, which is wholly owned by Enterprise GP Holdings L.P. (NYSE:EPE). For more information on Enterprise GP Holdings L.P., visit www.enterprisegp.com.
This news release includes forward-looking statements. Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve certain risks and uncertainties. These risks and uncertainties include, among other things, weather-related events, insufficient cash from operations, market conditions, governmental regulations and factors discussed in Enterprise Products Partners L.P.'s filings with the Securities and Exchange Commission. If any of these risks or uncertainties materializes, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those expected. The partnership disclaims any intention or obligation to update publicly or reverse such statements, whether as a result of new information, future events or otherwise.