Monday, November 16, 2015
Enterprise Products Partners LP (Houston) said Nov. 16 it had approved additional long-term contracts with customers to export about 125 MMbbl of LPG over a seven-year period from its terminal on the Houston Ship Channel. Enterprise’s LPG export facility, including the volumes associated with the most recent agreements, is now more than 90% subscribed through 2019 in terms of estimated operating capacity.
Enterprise is nearing completion of a series of expansions at the terminal designed to accommodate the growing demand for export capacity. During the first quarter of this year the company increased its loading rate to more than 16,000 bbl an hour, or 9 MMbbl a month. By the end of 2015 Enterprise expects to complete the final expansion phase, which will boost loading rates to more than 27,000 bbl an hour. Once the final expansion is complete, Enterprise will have the ability to load LPG up to 16 MMbbl a month, which equates to about 29 vessels a month.
“As the U.S. has become the largest producer of LPG in the world, our customers have come to appreciate even more our 30 years of experience and the reliability and efficiency of our dock operations,” said A.J. (Jim) Teague, COO of Enterprise’s general partner. “The value of our export terminal to customers is highlighted even further when you consider that the majority of the capacity is under contract as far out as 2022. Given the surplus of domestic LPG, Enterprise’s export terminal plays a central role in promoting continued development of U.S. energy reserves.”
Enterprise is nearing completion of a series of expansions at the terminal designed to accommodate the growing demand for export capacity. During the first quarter of this year the company increased its loading rate to more than 16,000 bbl an hour, or 9 MMbbl a month. By the end of 2015 Enterprise expects to complete the final expansion phase, which will boost loading rates to more than 27,000 bbl an hour. Once the final expansion is complete, Enterprise will have the ability to load LPG up to 16 MMbbl a month, which equates to about 29 vessels a month.
“As the U.S. has become the largest producer of LPG in the world, our customers have come to appreciate even more our 30 years of experience and the reliability and efficiency of our dock operations,” said A.J. (Jim) Teague, COO of Enterprise’s general partner. “The value of our export terminal to customers is highlighted even further when you consider that the majority of the capacity is under contract as far out as 2022. Given the surplus of domestic LPG, Enterprise’s export terminal plays a central role in promoting continued development of U.S. energy reserves.”
