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Targa’s 5th Mt Belvieu fractionator in start-up, fully operational by end 2Q
HOUSTON, April 29, 2016 (PCW) -– Targa’s 100,000 b/d Train 5 is currently in start-up mode, the company said Friday.
The Mont Belvieu fractionator will be fully operational at the end of the second quarter, although utilization is expected to “fill up more slowly than initially expected,” CEO Joe Bob Perkins said Friday during an earnings call with analysts.
Its crude and condensate splitter project at Targa’s Channelview terminal on the Houston Ship Channel is still on the table, the company said. Estimated cost of the project is $140 million. The 35,000 b/d splitter is expected to be operational in 1Q 2018.
Targa on Friday reported a 1Q net loss of $2.7 million, down from the $3.2 million seen in 1Q 2015, due to significantly lower commodity prices. -- Samantha Hartke