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Enterprise’s new PDH expects full production in late November
HOUSTON, November 2, 2017 (PCW) – Enterprise Product Partners on Thursday said its 1.65 billion lbs/yr PDH unit at Mont Belvieu is in the start-up phase and full PGP production is expected by the end of November.
The much-delayed project had been expected online in October, but had been delayed because of Hurricane Harvey.
Enterprise said it continues to make progress on its proposed ethylene export terminal at Morgan’s Point, which also includes a new ethylene storage cavern and a new pipeline from Mont Belvieu to Bayport via Morgan’s Point. CEO Jim Teague noted this is “not a firm project.” A final investment decision has been expected by year’s end.
EPD on Thursday also reported 3Q net income of $621 million, down 3.4% from the year-ago period. The decline was largely attributed to lower pipeline volumes because of extended downtime from petrochemical and refining customers during Hurricane Harvey.
The company’s NGL Pipelines & Services segment saw 3Q gross operating margin of $771 million, up from $704 million in 3Q 2016. Record volumes at the Morgan’s Point ethane export terminal and record volumes on the ATEX ethane pipeline contributed to the uptick. Morgan’s Point loaded 100,000 b/d of cargoes in 3Q, while ATEX volumes were up 26,000 b/d, compared to 3Q 2016.
The Petrochemical & Refined Products Services group’s gross operating margin was $172 million, flat to the year-ago period. The propylene fractionation business’ 3Q gross operating margin fell $13 million, primarily due to higher plant operating and PDH commissioning costs. Propylene fractionation volumes were at 78,000 b/d for the quarter, up from 76,000 b/d in 3Q 2016. Propylene export volumes increased 5,000 b/d to 21,000 b/d in 3Q compared to a year ago. -- Samantha Hartke