HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) today announced that its affiliate, Enterprise TE Products Pipeline Company LLC (“TE Products Pipeline”), is conducting a binding open season for incremental volumes of diluent on the company’s existing 20-inch diameter pipeline in conjunction with an expansion of the system. The pipeline originates in Mont Belvieu, Texas and extends to the Chicago-area market, connecting to third-party pipelines with access to Canadian markets for diluent. The open season is being held in response to increased shipper demand for diluent transportation capacity into the Midwest for subsequent transportation on third-party pipelines to markets in Canada.
The proposed capacity being offered in the open season will not adversely affect any existing shippers on the TE Products Pipeline. The expanded capacity would be accomplished through system upgrades and incremental pumping horsepower. The binding open season will begin June 4, 2024 at 8 a.m. CDT and continue until 5 p.m. CDT on July 3, 2024. Pending sufficient shipper commitments during the open season, the expanded service is expected to be available in July of 2025.
Additional information and open season documents, including the transportation services and confidentiality agreements, is available by contacting Erica Franz at efranz@eprod.com, or by calling 713-381-4234.
TE Products Pipeline owns and operates a network of pipeline systems spanning more than 3,000 miles that transports refined products and natural gas liquids (“NGL”) from the upper Texas Gulf Coast to Seymour, Indiana. From there, segments of the pipeline system extend to Chicago, Illinois; Lima, Ohio; Selkirk, New York; and a location near Philadelphia, Pennsylvania. East of Seymour, TE Products Pipeline is primarily dedicated to NGL transportation service.
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. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products production, transportation, storage, and marine terminals and related services; and a marine transportation business that operates on key U.S. inland and intracoastal waterway systems. The partnership’s assets include more than 50,000 miles of pipelines; over 300 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.
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.
