HOUSTON, June 11, 2014 (GLOBE NEWSWIRE) -- Enterprise Products Partners will build an ethane export facility on the Houston Ship Channel, signing a long-term agreement with the Port of Houston Authority for use of its facilities adjacent to Enterprise's existing terminal at Morgan's Point.
"The agreement is exciting for the port and the entire region in terms of creating jobs and fostering positive economic impact," noted Janiece Longoria, Chairman of the Port Commission of the Port of Houston Authority. "The energy renaissance under way in the state of Texas continues to drive new opportunities along the Houston Ship Channel."
The 30-year agreement is a significant transaction for the Port Authority that will enhance the value of the existing lease with Enterprise. The facility is expected to begin operations in the third quarter of 2016.
Enterprise also plans to construct a pipeline from its Mont Belvieu, Texas, natural gas liquids fractionation and storage complex, which will provide direct access to ethane supply. The export terminal will have the capacity to load fully refrigerated ethane at approximately 10,000 barrels per hour.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a major North American provider of midstream energy services. The Port of Houston, host to the largest petrochemical manufacturing complex in the U.S., leads the nation in exports.
About the Port of Houston Authority
For nearly 100 years, the Port of Houston Authority has owned or operated the public cargo-handling facilities of the Port of Houston – the nation's largest port for foreign waterborne tonnage. The port is an economic engine for the Houston region, the state of Texas and the nation. It supports the creation of more than one million statewide jobs and more than 2.1 million nationwide jobs, and the generation of economic activity totaling more than $178.5 billion in Texas and $499 billion across the nation. For more information, visit the Port Authority website at: www.portofhouston.com.
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