HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE:EPD) today announced it has completed construction, commissioned, and initiated operation of the remaining 162-mile portion of the Aegis ethane pipeline from Lake Charles, Louisiana to the Napoleonville, Louisiana area. The 270-mile, 20-inch diameter Aegis system originates at Mont Belvieu, Texas, which is the terminus for more than 3 million barrels per day of natural gas liquids (NGL) supply pipeline capacity, is connected to more than 2 million barrels per day (“BPD”) of industry fractionation capacity and is home to more than 110 million barrels of Enterprise-owned storage capacity. Combined with the partnership’s existing South Texas pipeline network, Aegis is an integral part of an ethane header system capable of serving more than 20 petrochemical facilities along the Texas and Louisiana Gulf Coast.
“We are pleased to complete this final phase of the Aegis ethane pipeline,” said A.J. “Jim” Teague, chief operating officer of Enterprise’s general partner. “The Aegis system provides price-advantaged ethane feedstock and supply flexibility for the expanding network of petrochemical facilities along a 500-mile corridor between Corpus Christi, Texas and the Mississippi River. These facilities are expected to represent more than 90 percent of domestic ethylene capacity within the next five years.”
The Aegis pipeline project has received strong interest, as indicated by the success of four open seasons, including the most recent one held from November 1 to November 30, 2015. Customers have executed contracts totaling 360,000 BPD that will ramp up over the next four years. With additional pumps, the pipeline will have the capacity to transport approximately 400,000 BPD of ethane.
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 49,000 miles of pipelines; 225 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.
