Enterprise Products Expects to Complete Ethane Export Terminal this Summer

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Researched by Industrial Info Resources (Sugar Land, Texas)--Enterprise Products Partners L.P. (NYSE:EPD) (Houston, Texas) expects its ethane export terminal on the Houston Ship Channel will be fully booked when it begins operations this summer. The project has a total investment value of $800 million and is set for completion in June.

Located on Morgan's Point, the fully refrigerated facility will be able to load up to 10,000 barrels per hour of shale-derived ethane. The company has said the export terminal was 90% contracted in terms of operating capacity.

On Monday, Brazilian chemical producer Braskem S.A. (Sao Paulo) (NYSE:BAK) said it had entered into a 10-year contract to buy ethane from Enterprise. The ethane will feed Braskem's Bahia cracker unit, which will be upgraded so it can use up to 15% of ethane as feedstock, according to the company.

Enterprise's export facility will be the largest of its kind when it goes into operation in the third quarter this year, according to the company. The terminal will supply ships capable of carrying 125,000 barrels or more, according to the company's presentation at the Scotia Howard Weil Energy Conference earlier this month in New Orleans.

The facility will be integrated with Enterprise's Mont Belvieu natural gas liquids NGL fractionation and storage complex in Texas.

The company is also looking at the possibility of exporting ethylene to Asia as the U.S. market becomes oversaturated. Several large cracker projects already are in the construction phase in North America and are estimated to bring up to 14 billion pounds of new capacity to the market over the next 12 to 24 months. For related information, see March 16, 2016, article - Ethylene in the Spotlight as Projects Near Startup, Others Show Promise.

Industrial Info is tracking 102 Enterprise Products projects worth $5.82 billion.

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