HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) announced today that it has made significant progress in restoring service at substantially all of its major assets impacted by Hurricane Harvey.
“I could not be more proud of our employees and their extraordinary efforts to respond to the unprecedented challenges created by Hurricane Harvey,” said A.J. “Jim” Teague, chief executive officer of Enterprise’s general partner. “We had employees who worked tirelessly throughout the storm and its aftermath, including some who voluntarily worked even though their own homes were flooded.”
“Enterprise’s most important commitments to our customers are to provide flow assurance, reliability and market choices. The laser focus of our employees and the flexibility of our systems allowed us to continue to provide services to our producing or consuming customers. Although our actions cost the partnership in excess of $5 million, we delivered on our commitments,” stated Teague.
Enterprise’s Mont Belvieu complex has resumed commercial service, including its eight NGL fractionators, six propylene splitters, isomerization facility and octane enhancement unit. While NGL storage remains operational and brine containment has stabilized, the partnership continues to carefully monitor this situation. Enterprise has not curtailed NGL fractionation or storage services.
Enterprise’s marine terminals have largely returned to service, as port restrictions remain in place at certain facilities. Enterprise’s two marine terminals on the Houston Ship Channel have resumed commercial service as loadings of ethane, liquefied petroleum gas (LPG) and polymer grade propylene ships have resumed. Seaway’s marine terminals in Texas City and Freeport have resumed service. The partnership’s Beaumont marine terminals are also operational but are not currently receiving ships since the port remains closed to traffic.
In South Texas, the partnership’s eight natural gas processing plants and two NGL fractionators have resumed full operations. In addition, Enterprise’s natural gas, NGL and crude oil pipelines in South Texas are in commercial service.
With respect to pipeline operations, issues have been minimal and have not prevented movements on Enterprise’s mainlines. In particular, the Seaway pipelines from Cushing to the Gulf Coast have remained in operation for the duration and all receipt points are in service. The TE Products pipeline from Beaumont to Midwest delivery points is operating at full rates. Enterprise’s refined products terminal in Port Arthur is currently down due to high water.
While a final assessment of certain locations is still under way, the company has not incurred significant physical damage to facilities. Operationally, the partnership continues to face challenges resulting from curtailments or allocations by some critical third party service providers.
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 50,000 miles of pipelines; 260 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.