Enterprise Products Partners L.P. has executed additional long term contracts with customers to export approximately 125 million aggregate barrels of liquefied petroleum gas (LPG) over a seven year period from its terminal along the Houston Ship Channel. Including the volume associated with these agreements, Enterprise’s LPG export facility is now over 90% subscribed, in terms of estimated operating capacity, through 2019.
“As the US has become the largest exporter of LPG in the world, our customers have come to appreciate even more our 30 years of experience and the reliability and efficiency of our dock operations,” said A.J. “Jim” Teague, Chief Operating Officer of Enterprise’s general partner. “The value of our export terminal to customers is highlighted even further when you consider that the majority of the capacity is under contract as far out as 2022. Given the surplus of domestic LPG, Enterprise’s export terminal plays a central role in promoting continued development of US energy reserves.”
Enterprise is nearing completion of a series of expansions at the terminal designed to accommodate the growing demand for export capacity. During 1Q15, the company increased its loading rate to more than 16 000 bbls/hr, or 9 million bbls per month. By the end of 2015, Enterprise expects to complete the final phase, which will increase loading rates at the terminal to more than 27 000 bbls/hr. Once the final expansion phase has been completed, Enterprise will have the capacity to load up to 16 bbls per month of LPG, which equates to approximately 29 vessels per month.
Adapted from press release by Rosalie Starling
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/23112015/enterprise-signs-long-term-contracts-for-lpg-export-capacity-1779/