Enterprise to Provide Producers, Consumers with Enhanced Access to NGL Services with Completion of South Texas Corridor Strategy.HOUSTON -- Enterprise Products Partners L.P. (NYSE NYSE See: New York Stock Exchange :EPD EPD expected progeny difference. ) today announced that it will have substantially completed the implementation of its South Texas corridor strategy by Jan. 1, 2007. The strategy involves a combination of pipeline acquisitions, new pipeline construction and upgrades to existing assets to provide producers and consumers of natural gas liquids (NGLs) along the Texas Gulf Coast with significantly enhanced access to North America's largest NGL NGL - A dialect of IGL. market hub at Mont Belvieu, Texas Mont Belvieu is a city in Chambers County, Texas, United States. It is just north of Interstate 10 along State Highway 146. The population was 2,324 at the 2000 census. Geography Mont Belvieu is located at (29.860242, -94. . Among other things, the new fully integrated NGL infrastructure is designed to provide producers in South Texas with a larger, more liquid market for their NGL production. In addition, petrochemical and refinery consumers in the Texas Gulf Coast area will have a more diverse supply base, as well as greater support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services such as NGL fractionation fractionation /frac·tion·a·tion/ (frak?shun-a´shun) 1. in radiology, division of the total dose of radiation into small doses administered at intervals. 2. , storage and multi-product distribution capabilities. "The South Texas corridor project follows Enterprise's successful strategy of integrating the Louisiana NGL markets with the Mont Belvieu hub in recent years and is consistent with our announced strategy to link growing Rocky Mountain NGL supplies to the Mont Belvieu hub through a series of organic projects to be completed in 2007 and 2008," said Robert G. Phillips, Enterprise president and chief executive officer. "With this project, Enterprise will be able to provide NGL consumers from Corpus Christi, Texas Corpus Christi is a coastal city and the county seat of Nueces CountyGR6 in the U.S. state of Texas. It is part of the region known as South Texas. , to Texas City with enhanced access to Mont Belvieu, providing access to competitively priced supplies and dependable feedstock feed·stock n. Raw material required for an industrial process. Noun 1. feedstock - the raw material that is required for some industrial process raw material, staple - material suitable for manufacture or use or finishing and blendstock services. As a result, we have added significant value to our integrated gathering, processing, fractionation, storage and product distribution network located in South Texas and provided additional business opportunities for our facilities at Mont Belvieu." As part of the South Texas corridor strategy, Enterprise upgraded an existing NGL pipeline that connects its Shoup and Armstrong fractionators in South Texas to Mont Belvieu. With the upgrades, the pipeline has transportation capacity of approximately 35,000 barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. (BPD Borderline personality disorder (BPD) A pattern of behavior characterized by impulsive acts, intense but chaotic relationships with others, identity problems, and emotional instability. ) and could flow in either direction. In addition, the partnership purchased an existing NGL pipeline that runs from Corpus Christi Corpus Christi, in Christianity Corpus Christi [Lat.,=body of Christ], feast of the Western Church, observed on the Thursday after Trinity Sunday (or on the following Sunday). to Pasadena, Texas, that currently has a capacity of approximately 100,000 BPD, expandable to 175,000 BPD. Enterprise is in the process of completing construction of a 22-mile extension of the pipeline, which will connect to the partnership's storage and fractionation facilities at Mont Belvieu. When completed, the two pipelines will be part of an integrated Enterprise South Texas NGL system that will provide bi-directional connectivity to and from Mont Belvieu for NGL production from Enterprise's seven gas processing plants in South Texas, as well as third party customers. Additionally, the system will serve petrochemical and refinery customers located near Texas City, Chocolate Bayou, Point Comfort, Corpus Christi and other South Texas locations, as well as markets in northern Mexico. Enterprise expects to initially transport about 120,000 BPD of NGLs on its South Texas NGL system with the potential to increase to more than 175,000 BPD. Enterprise Products Partners L.P. is one of the largest publicly traded energy partnerships with an enterprise value of approximately $17 billion, and is a North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. provider of midstream mid·stream n. 1. The middle part of a stream. 2. The part of a course that is neither at the beginning nor at the end: the midstream of life. Noun 1. energy services to producers and consumers of natural gas, NGLs and crude oil. Enterprise transports natural gas, NGLs and crude oil through more than 34,000 miles of onshore and offshore pipelines. Services include natural gas transportation, gathering, processing and storage; NGL fractionation (or separation), transportation, storage, and import and export terminaling; crude oil transportation and offshore production platform services. For more information, visit Enterprise on the web at www.epplp.com. Enterprise Products Partners L.P. is managed by its general partner, Enterprise Products GP LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , which is wholly owned by Enterprise GP Holdings L.P. (NYSE:EPE EPE equine pituitary extract. ), one of the nation's largest publicly traded GP partnerships with an enterprise value of approximately $3 billion. For more information on Enterprise GP Holdings L.P., visit its website at www.enterprisegp.com. This press release contains various forward-looking statements and information that are based on Enterprise's beliefs and those of its general partner, as well as assumptions made by and information currently available to Enterprise. When used in this press release, words such as "anticipate," "project," "expect," "plan," "goal," "forecast," "intend," "could," "believe," "may," and similar expressions and statements regarding the plans and objectives of Enterprise for future operations, are intended to identify forward-looking statements. Although Enterprise and its general partner believe that such expectations reflected in such forward-looking statements are reasonable, neither Enterprise nor its general partner can give assurances that such expectations will prove to be correct. Such statements are subject to a variety of risks, uncertainties and assumptions. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, Enterprise's actual results may vary materially from those Enterprise anticipated, estimated, projected or expected. Among the key risk factors that may have a direct bearing on Enterprise's results of operations and financial condition are: * fluctuations in oil, natural gas and NGL prices and production due to weather and other natural and economic forces; * the effects of our debt level on its future financial and operating flexibility; * a reduction in demand for our products by the petrochemical, refining or heating industries; * a decline in the volumes of NGLs delivered by our facilities; * the failure of its credit risk management efforts to adequately protect us against customer non-payment; * terrorist attacks aimed at our facilities; and, * the failure to successfully integrate our operations with any companies that we may acquire in the future, if any. Enterprise has no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. |
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