Enterprise Announces Open Season for Propane Service on ATEX Express Pipeline
HOUSTON--(BUSINESS WIRE)-- Enterprise Products Partners L.P. (NYS: EPD) today announced a binding open season to determine shipper support for transporting propane to Mont Belvieu, Texas on the partnership's Appalachia-to-Texas ("ATEX") pipeline. Currently the ATEX pipeline has long-term contracts in place for ethane transportation to Mont Belvieu. The addition of propane service will not impact Enterprise's contractual obligations with existing ATEX ethane shippers.
To accommodate shipments of propane, Enterprise would loop a portion of ATEX, add pumping capacity as needed and install additional facilities for the delivery of specification ethane and propane at destination points. The final scope of the project will be determined by the aggregate volume of commitments received during the open season, but propane transportation service is anticipated to commence in the first quarter of 2015.
"Transporting propane to Mont Belvieu, the largest, most liquid trading and storage hub, will provide northeast producers with a reliable outlet for their excess propane and help maximize the value of their production," said Michael A. Creel, chief executive officer of Enterprise's general partner. "If export markets soften, Mont Belvieu is best positioned to store and distribute propane to the petrochemical and propane dehydrogenation markets and to other pipeline-connected destinations originating from Mont Belvieu."
The open season will begin on Wednesday June 5, 2013 at 9 a.m. CDT and will end on Thursday July 11, 2013 at 5 p.m. CDT. For commercial inquiries or additional information related to the open season, please contact Russ Kovin at (713) 381-7925 or firstname.lastname@example.org.
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 (including LPG); crude oil and refined products transportation, storage and terminals; offshore production platforms; petrochemical transportation and services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems and in the Gulf of Mexico. The partnership's assets include approximately 50,000 miles of onshore and offshore pipelines; 200 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. Additional information about Enterprise 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.
Enterprise Products Partners L.P.
Randy Burkhalter, (713) 381-6812 or (866) 230-0745
Rick Rainey, (713) 381-3635
KEYWORDS: United States North America Texas
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