🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

Energy Transfer forms JV for new Gulf Coast ethane export facility

Published 03/15/2018, 03:51 PM
© Reuters.  Energy Transfer forms JV for new Gulf Coast ethane export facility
ETP
-
  • Energy Transfer Partners (NYSE:ETP) says it will form a joint venture with Satellite Petrochemical to build a new export terminal on the Gulf Coast to provide ethane to Satellite for consumption at its ethane cracking facilities in China.
  • The Gulf Coast facility will house an 800K-barrel refrigerated ethane storage tank and a 175K bbl/day ethane refrigeration facility; a new ethane pipeline originating at ETP’s Mont Belvieu plant will feed the export terminal as well as domestic markets.
  • As part of the JV agreement, ETP will supply Satellite with ~150K bbl/day of ethane under a long-term contract.
  • The U.S. currently is home to two ethane export facilities: Energy Transfer's Marcus Hook, Pa., terminal and Enterprise Products Partners' 20K bbl/day terminal in Morgan's Point, Tex.
  • Now read: Followers Tag Just Energy, Five Oaks, Spark, Capitala And Frontier Tops By Broker Target Gains For January


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.