DALLAS--(BUSINESS WIRE)--Dallas-based Energy Transfer LP (NYSE: ET) today announced the first Very Large Ethane Carrier (VLEC) has been loaded under its previously announced joint venture with Satellite Petrochemical USA Corp., Orbit Gulf Coast NGL Exports, LLC (Orbit). The Seri Everest, the world’s largest VLEC, departed from Orbit’s newly constructed export facilities at Energy Transfer’s Nederland Terminal in Nederland, Texas, on Jan. 17, 2021, to complete its maiden voyage. The vessel was loaded with more than 911,000 barrels of ethane destined for Satellite’s Lianyungang ethane cracker in northeastern Jiangsu Province, China, the largest single shipment of ethane to date. Its anticipated arrival at Lianyungang Port is mid-February 2021.
Orbit’s export terminal at Nederland, one of only three U.S. ethane export terminals, includes a 1.2 million barrel ethane storage tank and an estimated 180,000 barrel per day ethane refrigeration facility. Energy Transfer’s Marcus Hook facility in Pennsylvania is also capable of handling VLECs. The combination of the two terminals represent over 50 percent of the U.S. waterborne export capacity. Under the joint venture with Satellite, Energy Transfer is the operator of Orbit’s assets, which also include a newly constructed 20-inch pipeline originating at Energy Transfer’s fractionation and storage facilities in Mont Belvieu, Texas, for ethane deliveries to the Nederland export terminal as well as domestic markets in the region. In association with Orbit, Energy Transfer also completed its build-out of wholly owned infrastructure at Mont Belvieu to supply ethane to Orbit’s pipeline, and at Nederland to load the ethane onto VLECs. Under separate agreements, Energy Transfer will provide Satellite with approximately 150,000 barrels per day of ethane under a long-term, demand-based agreement, along with storage and marketing services.
Energy Transfer (via Sunoco Logistics) was the first company to export ethane out of the U.S. by pipeline. Its Mariner West pipeline first transported ethane to Canada in January of 2013. Energy Transfer was also the first to export ethane out of the U.S. via ship in March of 2016 from its Marcus Hook Terminal in Pennsylvania.
Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with a strategic footprint in all of the major domestic production basins. ET is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; NGL fractionation; and various acquisition and marketing assets. ET, through its ownership of Energy Transfer Operating, L.P., also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC). For more information, visit the Energy Transfer website at energytransfer.com.
Forward Looking Statement:
This news release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. An extensive list of factors that can affect future results are discussed in the Partnership’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission, including the Partnership’s Quarterly Report on Form 10-Q to be filed for the current period. In addition to the risks and uncertainties previously disclosed, the Partnership has also been, or may in the future be, impacted by new or heightened risks related to the COVID-19 pandemic and the recent decline in commodity prices, and we cannot predict the length and ultimate impact of those risks. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.
The information contained in this press release is available on our website at www.energytransfer.com.