Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) today announced that the first phase of its Texas Western Products System (“TW Products System”) is now in service with the start of truck loading operations at the company’s new Permian terminal in Gaines County, Texas. The facility features approximately 900,000 barrels of storage for gasoline and diesel, and truck loading capacity of 10,000 barrels per day (“BPD”). The company expects the remainder of the system, which includes terminals in the Jal and Albuquerque, New Mexico areas, as well as the Grand Junction, Colorado area, to be placed in service later in the first half of 2024.
“Once completed, the TW Products System will provide supply reliability and diversity to the historically underserved gasoline and diesel markets in the southwest United States,” said A.J. “Jim” Teague, co-chief executive officer of Enterprise’s general partner. “By repurposing segments of our integrated Gulf Coast midstream network, which features access to the largest refining complex in the U.S., representing more than 4.5 million BPD of capacity, the TW Products System will provide retailers access to alternative sources of refined products, which should result in lower fuel prices for consumers in West Texas, New Mexico, Colorado and Utah.”
To supply the terminals, Enterprise is converting segments of its Chaparral and Mid-America natural gas liquids (“NGLs”) pipeline systems to accommodate refined products. Utilizing a batched delivery system will give the company the ability to continue transporting mixed NGLs and NGL purity products in addition to gasoline and diesel.
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. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products production, transportation, storage, and marine terminals and related services; and a marine transportation business that operates on key U.S. inland and intracoastal waterway systems. The partnership’s assets include more than 50,000 miles of pipelines; over 300 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.
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.
