HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE:EPD) today announced that the first cargo of ethane to be exported from Enterprise’s Morgan’s Point, Texas terminal has been loaded. The M/V JS INEOS Intrepid, loaded with approximately 265,000 barrels of ethane, set sail from the facility this morning en route to the INEOS facility at Rafnes in Norway. The Morgan’s Point ethane export facility, which is the largest of its kind in the world, has a design loading capacity of 10,000 barrels per hour.
The driving force behind development of the terminal is the growing international demand for abundant U.S. ethane from shale plays, which offers the global petrochemical industry a low-cost feedstock option and supply diversification. By providing producers with access to the export market, the Morgan’s Point terminal is also facilitating continued development of U.S. energy reserves.
Supply for the new ethane export terminal is sourced from Enterprise’s natural gas liquids fractionation and storage complex in Mont Belvieu, Texas and transported through a new 18-mile, 24-inch diameter pipeline that was completed in February of 2016. In addition, the Mont Belvieu complex is connected to ethane production from the Marcellus and Utica Shale regions through the ATEX pipeline.
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 include approximately 49,000 miles of pipelines; 250 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; 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.