With SXL announcing a Mariner South development for the export of propane from TX and DCP beginning propane exports from Norfolk, the USA propane export capacity will exceed 200 million barrels/year in 2014. SXL Marcus Hook will have an export capacity then of more than 25 million barrels/year. EPD/TARGA will between them in late 2014 lhave a propane export capacity in excess of 160 million barrels of propane/year from Mont Belvieu/Galena Park TX. It is clear that propane pricing next year will be firming and MWE will be able to market all its' propane to good advantage. It is also very clear that 2014 will be the beginning of NYMARV'S "Golden Age of MLPs".
Hach.I have again started accumulating SXL for the 6th time in 9 yrs. CS has a TP of 68 and I will not be tempted by selling CC's because their premium is just average. Liza and I also feel that anything under 62 is fair.This business of propane export may do little for EPD because of size but alot for NGLS and DPM and SXL ( with its 5-7 small oil line projects in next 1 1/2 years).Your note on expansion of Suez Canal is a sleeper.
I also assume as you have said that with terminals expanded for above named and OILT that the butane group might have some plus's also. I feel the mlp's are performing very well into March and if it doen't take a hit these next two weeks the "golden age" begins because of the BILLIONS of capex being spent on drilling , new pipelines, expansion of all fixed asset facilities export and investment community awakening to the group. Not to be forgotten oil remains in $90 dollar range and NG approaching magical $4. The Keystone pipeline would signal the administration being on board and the age maturing.
Nymarv: These days I feel like I'm on a surfboard trying to catch a big wave on the coasts of Hawaii. The waves are coming in, and how best do you ride them to score?! Here we have the US Law banning export of USA produced crude , and the CEO of Dow trying to get exports of natural gas banned,too. There is no law banning exports of refined products or of NGLs like propane,ethane,and butane. So, let's get those exports going to get all prices up! As long as the price of oil remains high then NGLs will do beautifully...I have investments in GEL,MMP,and PAA riding the crude oil logistics wave and bucks on APL,MWE,DPM,NGLS going for the NGL ride. I've been draining my EPD to fuel the others. I get nervous about big ETP controlling SXL, but SXL has a lot going for it with its' terminals(Nederland) and Mariner projects. And as the K-1s come in I am realizing that there are tons of differences between the MLPs,too. It's exciting to be in this area...for my wife,too: the size/quality of the Lexus she expects in her Christmas stocking is getting bigger/better as well! Best Regards