HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE:EPD) today announced the start of a binding open season to seek shipper support for a proposed expansion of the portion of its Panola Pipeline Company, LLC natural gas liquids (“NGL”) system between Carthage and Lufkin, Texas. The project is designed to support Haynesville and Cotton Valley oil and gas producers by providing enhanced access to the world’s largest NGL fractionation complex in Mont Belvieu, Texas. Originating near Carthage in Panola County, the NGL pipeline system extends 181 miles, serving multiple destination points at Mont Belvieu, including facilities owned and operated by Enterprise.
Depending on shipper response to the open season, the Panola expansion project would be designed to accommodate approximately 15,000 barrels per day (“BPD”) of incremental capacity. Achieving the additional capacity would involve installing pumps and related equipment. The additional capacity would be available in the latter part of the fourth quarter 2013.
The open commitment period begins today at 9 a.m. CDT and will close on Friday, August 2, 2013 at 5 p.m. CDT. For commercial inquiries or additional information related to the open commitment period, please contact Chad Aldrich at (713) 381-6427 or cjaldrich@eprod.com.
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, and storage; LPG import and export terminals; 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.
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.
