EPD to Build Crude Oil Facility Linking Eagle Ford to Houston-Area
"HOUSTON--(BUSINESS WIRE)-- Enterprise Products Partners L.P. (NYSE:EPD - News) today announced plans to construct a crude oil storage facility and associated pipelines to provide refiners in the Houston area with access to growing production from the Eagle Ford Shale play in South Texas. A 150-acre tract in an industrial area of southeast Houston has been purchased as the site for the new Enterprise Crude Houston terminal.
Crude oil would be delivered to the Enterprise Crude Houston facility through the partnership’s Rancho Pipeline, located approximately three miles northwest of the new terminal, and two, 24-inch diameter pipelines Enterprise plans to construct. Strategically located close to two large-diameter crude oil distribution pipelines, the Enterprise Crude Houston terminal would provide access to the major refiners in Texas City, as well as other installations in Pasadena/Deer Park, Baytown and along the Houston Ship Channel via the Seaway Pipeline. The new crude oil storage facility and related infrastructure is scheduled to begin service in mid-2012.
“This project significantly enhances the value of Enterprise’s integrated midstream network in the Eagle Ford Shale by linking our recently announced 140-mile crude oil pipeline with the Houston-area refining complex, which features more than two million barrels per day of demand,” said A.J. “Jim” Teague, Enterprise executive vice president and chief operating officer. “By offering access to the largest concentration of refineries in the world and the storage and trading hub at Cushing, Oklahoma, Enterprise will be able provide Eagle Ford Shale producers with flexible options for maximizing the value of their production.” "