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Released November 02, 2022 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Enterprise Products Partners LP (NYSE:EPD) (Houston, Texas) boosted its net income in the just-passed third-quarter 2022 from year-ago levels due in part to shipping record volumes of energy products on its system.
Enterprise shipped a record 11.3 million barrels per day (BBL/d) of oil equivalent in the third quarter. The company reported net income of $1.4 billion for the quarter, compared with $1.2 billion in third-quarter 2021.
With continued investments in growth projects, the company may be set to boost this upward trajectory even more. Enterprise spent $973 million for organic growth projects in the first nine months of this year. The company estimates it has $5.5 billion of growth projects under construction and expects full-year 2022 growth spending to come in at $1.6 billion.
Many of the company's projects are set to come online next year. Examples include a second propane dehydrogenation (PDH) unit at its complex in Mont Belvieu, Texas. Construction of the unit kicked off in mid-2020. Upon completion, the unit will be able to produce 1.65 billion pounds per year of propylene from 35,000-BBL/d of propane, doubling the facility's overall production capacity to 3.3 billion pounds per year. The unit is expected to begin service in the second quarter of next year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for more details.
Enterprise is embracing movement into the petrochemical sector and is considering a potential ethylene plant in Texas, going so far as to apply for a tax break for property along the Neches River in Beaumont. The proposed cracker would have a 2 million-ton-per-year production capacity. Subscribers to Industrial Info's Chemical Processing Project Database can click here to learn more.
Further upstream, Enterprise is planning a possible third ethane refrigeration train at its Morgan's Point export terminal in La Porte, Texas. The facility has a current loading rate of up to 120,000 BBL/d, and a third train could increase this by 50%. Construction could kick off early next year, putting the project on track for completion in the second half of 2024. Subscribers to Industrial Info's Terminals Project Database can click here for more information.
Despite delving deeper into the petrochemicals sector, Enterprise continues to develop projects in its traditional midstream niche. The company is developing sixth and seventh cryogenic natural gas-processing plants in the Midland Basin, both in different phases of progress. Construction of Plant No. 6, near Stanton, Texas, is in the process of starting, and is expected to be completed in the second quarter of next year. The facility will add up to 350 million cubic feet per day of processing capacity to Enterprises' portfolio. Construction of the company's seventh gas-processing plant in the area hasn't begun but could potentially kick off next summer. Enterprise expects the facility to go into service in first-quarter 2024. Subscribers can click here for more details on Plant No. 6 and here for No. 7.
Other midstream projects include construction of a twelfth natural gas liquids (NGL) fractionator in Mont Belvieu. The 150,000-BBL/d unit would bring the site's total fractionation capacity to 1.25 million BBL/d. Construction kicked off earlier this year and is expected to be completed next summer. Subscribers can click here for the full report.
The company also is underway with a new gas-processing train at its facility in Mentone, Texas. Construction of Train 2 kicked off a couple of months ago and is expected to be in service in the fourth quarter of next year, bringing total plant processing capacity to 600 million cubic feet per day of natural gas and 60,000 BBL/d of NGLs. Subscribers can click here for more details.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
Enterprise shipped a record 11.3 million barrels per day (BBL/d) of oil equivalent in the third quarter. The company reported net income of $1.4 billion for the quarter, compared with $1.2 billion in third-quarter 2021.
With continued investments in growth projects, the company may be set to boost this upward trajectory even more. Enterprise spent $973 million for organic growth projects in the first nine months of this year. The company estimates it has $5.5 billion of growth projects under construction and expects full-year 2022 growth spending to come in at $1.6 billion.
Many of the company's projects are set to come online next year. Examples include a second propane dehydrogenation (PDH) unit at its complex in Mont Belvieu, Texas. Construction of the unit kicked off in mid-2020. Upon completion, the unit will be able to produce 1.65 billion pounds per year of propylene from 35,000-BBL/d of propane, doubling the facility's overall production capacity to 3.3 billion pounds per year. The unit is expected to begin service in the second quarter of next year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for more details.
Enterprise is embracing movement into the petrochemical sector and is considering a potential ethylene plant in Texas, going so far as to apply for a tax break for property along the Neches River in Beaumont. The proposed cracker would have a 2 million-ton-per-year production capacity. Subscribers to Industrial Info's Chemical Processing Project Database can click here to learn more.
Further upstream, Enterprise is planning a possible third ethane refrigeration train at its Morgan's Point export terminal in La Porte, Texas. The facility has a current loading rate of up to 120,000 BBL/d, and a third train could increase this by 50%. Construction could kick off early next year, putting the project on track for completion in the second half of 2024. Subscribers to Industrial Info's Terminals Project Database can click here for more information.
Despite delving deeper into the petrochemicals sector, Enterprise continues to develop projects in its traditional midstream niche. The company is developing sixth and seventh cryogenic natural gas-processing plants in the Midland Basin, both in different phases of progress. Construction of Plant No. 6, near Stanton, Texas, is in the process of starting, and is expected to be completed in the second quarter of next year. The facility will add up to 350 million cubic feet per day of processing capacity to Enterprises' portfolio. Construction of the company's seventh gas-processing plant in the area hasn't begun but could potentially kick off next summer. Enterprise expects the facility to go into service in first-quarter 2024. Subscribers can click here for more details on Plant No. 6 and here for No. 7.
Other midstream projects include construction of a twelfth natural gas liquids (NGL) fractionator in Mont Belvieu. The 150,000-BBL/d unit would bring the site's total fractionation capacity to 1.25 million BBL/d. Construction kicked off earlier this year and is expected to be completed next summer. Subscribers can click here for the full report.
The company also is underway with a new gas-processing train at its facility in Mentone, Texas. Construction of Train 2 kicked off a couple of months ago and is expected to be in service in the fourth quarter of next year, bringing total plant processing capacity to 600 million cubic feet per day of natural gas and 60,000 BBL/d of NGLs. Subscribers can click here for more details.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
