Enterprise

Enterprise Products Partners LP signed another long-term contract to export ethane from its terminal under construction at Morgan’s Point, TX. With the additional volumes, the 200,000 b/d terminal is about 90% contracted. “This agreement is a clear indication of the continued interest for U.S. ethane as a low cost feedstock by the global petrochemical industry,” said Jim Teague, COO of the general partner. “We are in negotiations with other customers and expect the remaining capacity to be sold out when the facility begins service.” The terminal is expected to enter service in 3Q2016 and would be able to load fully refrigerated ethane at up to 10,000 bbl per hour. Supply would be sourced from Enterprise facilities at Mont Belvieu, TX, and delivered by a 24-inch diameter pipeline under construction (see Daily GPI,Oct. 30).

Demand for natural gas liquids transport/export capacity continues to grow, according to Enterprise Products Partners LP, which saw its third quarter results aided by increased ethane transport volumes.

Genesis Energy LP has agreed to pay $1.5 billion in cash for the offshore pipeline and services business of Enterprise Products Partners LP and its affiliates. The deal includes ownership interest in 2,350 miles of offshore crude oil and natural gas pipelines and six offshore hub platforms.

When commodity prices are low and volatile, there are still money-making opportunities in the midstream sector; they’re just different, Enterprise Products Partners COO Jim Teague said Thursday.

When commodity prices are low and volatile, there are still money-making opportunities in the midstream sector; they're just different, Enterprise Products Partners COO Jim Teague said Thursday.

Lower prices for crude oil aren’t doing any favors for Enterprise Products Partners LP’s proposed crude pipeline from North Dakota to the Cushing, OK, hub, executives admitted Thursday. But U.S. producers have staying power even at lower oil prices because the country “…is in the middle of a production revolution,” they said.

India’s Reliance Industries has agreed to procure 1.5 million metric tons per year of ethane from the United States to produce ethylene at a new cracker in India, according to press reports.

Enterprise Products Partners LP said Tuesday it will build a fully refrigerated ethane export facility on the Texas Gulf Coast and that it has long-term contracts in pocket to support the project, which is to be the largest of its kind in the world.

FERC invoked its emergency authority Friday under the Interstate Commerce Act to help alleviate “dangerously low” propane supplies to consumers in the Midwest and Northeast.