HOUSTON--(BUSINESS WIRE)--Jan. 13, 2020--
Enterprise Products Partners L.P. (NYSE:EPD) today announced that its isobutane dehydrogenation (“iBDH”) plant in the Mont Belvieu, Texas area recently began service, with volumes expected to continue ramping up during the next two weeks. The facility, which is supported by long-term, fee-based contracts with investment grade customers, will ultimately have the capability to process approximately 25,000 barrels per day of butane into nearly 1 billion pounds per year of isobutylene.
The iBDH plant will provide the necessary feedstock to enable Enterprise to fully utilize its MTBE and High Purity Isobutylene assets and meet growing market demand for isobutylene. Supplies of isobutylene, which is also a byproduct of ethylene production plants, have decreased as a result of increased use of low-cost, light-end feedstocks, specifically ethane, instead of more expensive crude oil derivatives. The development of this project leverages Enterprise’s extensive integrated midstream network to turn plentiful, cost-advantaged natural gas liquids (“NGLs”) into a higher-valued product.
“The completion of the new iBDH facility extends our butane value chain by allowing us to increase production of both high purity and low purity isobutylene to be used primarily as feedstock to manufacture lubricants, rubber products and fuel additives,” said A.J. “Jim” Teague, chief executive officer of Enterprise’s general partner. “I would like to commend the performance of our construction contractor, Optimized Process Designs, and our employees whose expertise, diligence and more than 25 years of experience with the Oleflex technology allowed the project to be completed on time and under budget. This same technology and project execution strategy is being utilized on our second propane dehydrogenation plant, which is currently under construction at the same complex and is on schedule for completion in the first half of 2023.”
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Our services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and export and import terminals; crude oil gathering, transportation, storage and export and import terminals; petrochemical and refined products transportation, storage, export and import terminals and related services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems. The partnership’s assets include approximately 50,000 miles of pipelines; 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 Bcf of natural gas storage capacity.
This press release includes “forward-looking statements” as defined by the Securities and Exchange Commission. All statements, other than statements of historical fact, included herein that address activities, events, developments or transactions that Enterprise and its general partner expect, believe or anticipate will or may occur in the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations, including required approvals by regulatory agencies, the possibility that the anticipated benefits from such activities, events, developments or transactions cannot be fully realized, the possibility that costs or difficulties related thereto will be greater than expected, the impact of competition, and other risk factors included in Enterprise’s reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Except as required by law, Enterprise does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200113005202/en/
Source: Enterprise Products Partners L.P.
Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745
Rick Rainey, Media Relations (713) 381-3635