Enterprise Signs Natural Gas Liquids Contract With Statoil

abarrelfullabarrelfull wrote on 13 Jan 2014 15:15
Tags:

Latest News

{"module":"feed\/FeedModule","params":{"src":"http:\/\/killajoules.wikidot.com\/feed\/pages\/pagename\/blog%3A_start\/category\/blog\/limit\/10\/t\/My+Blog","limit":"4","module_body":"* %%linked_title%%"}}
  • Want a weekly review of refining news?

Dec. 6, 2005

Enterprise Products Partners L.P. (NYSE:EPD) announced today that its wholly owned affiliate, Enterprise Products Operating L.P. has signed a ten year contract with Statoil Marketing and Trading (U.S.) Inc., a wholly owned subsidiary of Norway's Statoil ASA ("Statoil") for the import, storage, sale and export of natural gas liquids ("NGLs") at its facility in Mont Belvieu, Texas.

The terms of the contract include guaranteed annual minimum volumes, reservation of dock space, along with import, storage and export flexibility for the life of the contract. Enterprise will provide downstream services, including vessel loading and unloading, transportation, fractionation and storage.

Enterprise is the leading provider of NGL import and export terminalling services in North America. The company's import terminal located on the Houston Ship Channel has one of the highest rated NGL import facilities in the country capable of unloading NGLs at a rate of up to 10,000 barrels per hour. The import terminal is connected to Enterprise's NGL complex in Mont Belvieu by the partnership's pipelines and serves as an industry conduit to the most liquid NGL marketplace in the world. The company's import facilities feed NGLs to its many customers located in different regions of the country who utilize Enterprise's network of downstream services.

"We look forward to working with Statoil and are excited about partnering with one of the leading participants in the global NGL markets," said Robert G. Phillips, President and Chief Executive Officer of Enterprise. "This transaction reaffirms our leading position in the industry as a midstream energy service provider offering a full array of services, not only to our domestic customers but also to our global customers as well. Our capability to import and export NGLs in the global marketplace is unparalleled and has established Enterprise as the premier company for providing these services."

Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License