Enterprise Signs Additional Commitment for Aegis Ethane Pipeline

From Enterprise Products Partners:

Enterprise Signs Additional Commitment for Aegis Ethane Pipeline

HOUSTON--(BUSINESS WIRE)--Jul. 1, 2015-- Enterprise Products Partners L.P. (NYSE:EPD) today announced it has executed a long-term agreement for incremental ethane transportation capacity on the partnership’s Aegis pipeline. With this agreement, total capacity commitments for the Aegis pipeline will ramp up over the next four years to more than 300,000 barrels per day ("BPD"). “Enterprise is very pleased to enter into this agreement and provide the midstream services necessary to support the continued growth of the petrochemical industry along the Gulf Coast,” said Michael A. Creel, chief executive officer of Enterprise’s general partner. The Aegis pipeline, which originates at Enterprise’s natural gas liquids fractionation and storage complex inMont Belvieu, Texas, extends 270 miles to Napoleonville, Louisiana. The initial 60-mile segment betweenMont Belvieu and Beaumont, Texas began service in September of 2014. The remaining portion is scheduled for completion by the end of 2015. Capacity on the pipeline can be expanded to approximately 400,000 BPD. When completed, Aegis will be part of a 500-mile ethane header system stretching from Corpus Christi, Texas to the Mississippi River. This header system will serve as a major ethane supply artery for more than 20 petrochemical facilities expected to represent over 90 percent of domestic ethylene production capacity by 2020. 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 import and export terminals; crude oil and refined products transportation, storage and terminals; offshore production platforms; petrochemical transportation and services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems and in the Gulf of Mexico. The partnership’s assets include approximately 51,000 miles of onshore and offshore pipelines; 225 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet 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.