Enterprise Products Partners L.P. (NYSE: EPD) as well asNavigator Holdings Ltd (NYSE: NVGS) report that the 21,000-cubic-meter ethylene service provider Navigator Atlas, lately ended up being the initial vessel to use a brand-new 30,000-ton cooled ethylene tank at the Morgan’s Point, Texas, ethylene export terminal on the Houston Ship Channel possessed 50/50 by associates of both business.
“Our fully commissioned Morgan’s Point ethylene export facility is the largest and most reliable supply source for waterborne ethylene in the world,” stated A.J. “Jim” Teague, co-CEO of Enterprise’s basic companion. “The terminal is backed by the supply of the entire U.S. Gulf Coast via our growing ethylene midstream services, which include our open access storage and market hub in Mont Belvieu. Our ethylene export, storage, and transportation services highlight our vision to provide midstream services for the petrochemicals industry that allow our customers to focus on their unique competitive advantages in the U.S. and in growing international markets.”
“The commissioning of the Morgan’s Point terminal in the face of a yearlong pandemic is testimony to the high-quality talent and dedicated team assigned to this project,” stated David Butters, Executive Chairman ofNavigator Holdings “We congratulate all employees and third-party contractors for the superb job in completing the export terminal on time and under budget “We expect the terminal to operate at capacity, utilizing Enterprise’s vast interconnected ethylene platform, and to create strong demand for Navigator’s fleet of specialized ethylene capable vessels.”
The brand-new ethylene tank is provided by a substantial ethylene storage space cave at Enterprise’s Mont Belvieu complicated. Enterprise likewise has the capacity to additional broaden its below ground caves to fit added ethylene storage space.