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Caliche announces ethylene storage services agreement

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Hydrocarbon Engineering,

Houston-based company focused on the development, construction, and operation of subsurface hydrocarbon storage assets and related pipelines in North America Caliche Development Partners, has executed a long-term storage services agreement for ethylene in its Beaumont, Texas, US, located cavern. The company will provide firm storage service in a substantial portion of the salt cavern for its customer's ethylene and derivative operations in the Golden Triangle area, beginning in 3Q18.

"Caliche is pleased with this momentum and believes it is further confirmation that we are filling a market void for producers and consumers of ethylene," said Dave Marchese, CEO of Caliche Development Partners, LLC. "We expect to be fully subscribed for ethylene storage service and plan to support these same customers with NGL feedstock storage service in 2019."

Caliche Coastal's fully-permitted, salt cavern facilities sit on 53 acres atop Spindletop Dome, with an additional 345 acre brine pond site strategically located less than four miles away. When fully developed, the operation will provide producers and end-users up to 32 million bbls of purpose-built, salt cavern storage facilities.

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