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Enterprise Products Partners L.P. is one of the largest publicly-traded energy partnerships and a leading North American provider of midstream energy services.
We currently are constructing the first world scale ethane export facility at our Morgan's Point terminal located on the Houston ship channel. This export facility will have a loading rate of approximately 200 thousand barrels per day ("MBPD") across two docks and is approximately 90 percent contracted. The facility, which is expected to be completed in the third quarter of 2016, will provide ethylene crackers and other end-use markets access to the most prolific supplies of ethane in the world.
Enterprise has operated the LPG (propane and butane) Import and Export Terminal for over 30 years and has announced plans to further expand the export facility from a loading capacity of ~9 million barrels per month (“MMBbls/mo”) up to 16 MMBbls/mo of LPGs in the fourth quarter of 2015. More than 90% of the operating capacity is contracted through 2019, with a majority of the capacity under contract as far out as 2022. The LPG cargoes are destined for markets from the Caribbean to the Far East; and for a variety of uses including consumer needs and to satisfy petrochemical demand.
We are constructing a PDH unit at Mont Belvieu which will produce 1.65 billion Lbs per year of Polymer Grade Proylene ("PGP"). This project capitalizes on lower propylene production from ethylene crackers, which has decreased by 5.4 billion lbs or 37 percent since 2010 due to the decline in cracking naphtha. This facility is contracted with average 15-year fee-based contracts with investment grade companies. The unit is expected to be commissioned in the fourth quarter of 2016.
Enterprise's geographic and business diversification led to solid financial results and enabled the partnership to increase the cash distribution rate paid to partners to an annualized $1.54 per unit in the third quarter of 2015. This is a 5.5% increase from the distribution rate paid with respect to the third quarter of 2014 and represents the 45th consecutive quarterly increase.
|More Distribution Payments|
|Jan 28, 2016 - Enterprise Reports Results for 2015|
|Jan 11, 2016 - Enterprise Products Partners to Participate in UBS MLP One-on-One Conference|