Enterprise Products Partners (EPD) Commences Binding Open Commitment Period on New NGL Pipeline
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Enterprise Products Partners L.P. (NYSE: EPD), through its Texas Express Pipeline LLC subsidiary, today announced the start of a binding open commitment period for available capacity on a new natural gas liquids (NGL) pipeline being developed by the company. The pipeline would originate from Skellytown, Texas in Carson County and extend approximately 580 miles to NGL fractionation and storage facilities in Mont Belvieu, Texas. The project is part of a recently announced joint venture that includes Enbridge Energy Partners, L.P. (NYSE: EEP), and Anadarko Petroleum (NYSE: APC).
The new Texas Express pipeline, in conjunction with the Mid-America Pipeline, will assist producers in West and Central Texas, the Rocky Mountains, Southern Oklahoma and the Mid-continent in maximizing the value of their natural gas production by providing additional takeaway capacity and enhanced access to the Gulf Coast NGL market. Initial capacity on Texas Express will be approximately 280,000 barrels per day (“BPD”), which can be readily expanded to approximately 400,000 BPD or more depending on shipper interest. The pipeline is expected to begin service in the second quarter of 2013.
The new Texas Express pipeline, in conjunction with the Mid-America Pipeline, will assist producers in West and Central Texas, the Rocky Mountains, Southern Oklahoma and the Mid-continent in maximizing the value of their natural gas production by providing additional takeaway capacity and enhanced access to the Gulf Coast NGL market. Initial capacity on Texas Express will be approximately 280,000 barrels per day (“BPD”), which can be readily expanded to approximately 400,000 BPD or more depending on shipper interest. The pipeline is expected to begin service in the second quarter of 2013.
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