Friday, December 16, 2016
HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) announces that its Freeport LPG Export Terminal located in Freeport, Texas, is fully operational. The company loaded its first contracted cargo on the Commander, a very large gas carrier (VLGC) that departed the terminal on Dec. 16, 2016. 
“The startup of the Freeport LPG Export Terminal is the culmination of a four-year effort to develop a new U.S. Gulf Coast natural gas liquids (NGL) market hub that also includes Phillips 66 Partners’ 100,000 barrel-per-day Sweeny fractionator and 7.5 million barrel Clemens storage facility,” said Greg Garland, chairman and CEO of Phillips 66. “The new liquefied petroleum gas (LPG) export terminal gives customers the ability to place multi-grade LPG products directly into global markets through Port Freeport, which provides immediate blue water access with minimal congestion.”
The Freeport LPG Export Terminal can simultaneously load two ships with refrigerated propane and butane at a combined rate of 36,000 barrels per hour. Supply is sourced from the Phillips 66 Partners’ Sweeny fractionator and Clemens storage facility, which is connected by pipeline to the Mont Belvieu Hub.
The export facility was developed to satisfy the growing international demand for affordable U.S. NGL. Expecting U.S. production to continue to grow, Phillips 66 is actively evaluating additional NGL fractionation and infrastructure alternatives along the U.S. Gulf Coast.
About Phillips 66
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company's master limited partnership, is an integral asset in the portfolio. Headquartered in Houston, Tex. the company has 14,000 employees committed to safety and operating excellence. Phillips 66 had $50 billion of assets as of Sept. 30, 2016.
“The startup of the Freeport LPG Export Terminal is the culmination of a four-year effort to develop a new U.S. Gulf Coast natural gas liquids (NGL) market hub that also includes Phillips 66 Partners’ 100,000 barrel-per-day Sweeny fractionator and 7.5 million barrel Clemens storage facility,” said Greg Garland, chairman and CEO of Phillips 66. “The new liquefied petroleum gas (LPG) export terminal gives customers the ability to place multi-grade LPG products directly into global markets through Port Freeport, which provides immediate blue water access with minimal congestion.”
The Freeport LPG Export Terminal can simultaneously load two ships with refrigerated propane and butane at a combined rate of 36,000 barrels per hour. Supply is sourced from the Phillips 66 Partners’ Sweeny fractionator and Clemens storage facility, which is connected by pipeline to the Mont Belvieu Hub.
The export facility was developed to satisfy the growing international demand for affordable U.S. NGL. Expecting U.S. production to continue to grow, Phillips 66 is actively evaluating additional NGL fractionation and infrastructure alternatives along the U.S. Gulf Coast.
About Phillips 66
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company's master limited partnership, is an integral asset in the portfolio. Headquartered in Houston, Tex. the company has 14,000 employees committed to safety and operating excellence. Phillips 66 had $50 billion of assets as of Sept. 30, 2016.
