Enterprise Products Partners L.P. (NYSE: EPD) announced today that it has loaded the first cargo of refined products for export from its reactivated marine terminal in Beaumont, Texas. Located on the Neches River, the terminal can load at rates up to 15,000 barrels per hour. The facility includes a dock with a 40-foot draft that can accommodate Panamax size vessels that have a capacity of up to 400,000 barrels (“Bbls”). The terminal has access to more than 12 million Bbls of refined products storage and receives products from eight refineries, representing approximately 3.3 million barrels per day (“BPD”) of capacity, as well as the Colonial Pipeline.
The improvements and modifications required to resume operations at the terminal, which included dredging, new pipeline construction, and the installation of new loading arms and vapor recovery systems, are supported by shipper commitments. Future plans for the Beaumont refined products terminal include the addition of a second dock and significant on-site storage for blending components. With its strategic location and enhanced capabilities, the Beaumont marine terminal provides greater optionality for customers, allowing them to capture added value from the evolving fundamentals of the domestic and international refined products markets.
“A dramatic increase in domestic crude oil production, driven by the shale revolution, combined with lower domestic demand for motor gasoline and expanded refining capacity along the Gulf Coast, has transformed the U.S. into a net exporter of refined products in less than seven years,” said A.J. “Jim” Teague, chief operating officer for Enterprise’s general partner. “By converting our Beaumont marine terminal, we are able to provide shippers with a more timely solution that further strengthens the Gulf Coast region as the primary gateway for refined products exports. Utilizing existing assets also reflects Enterprise’s commitment to the efficient use of capital.”