October 30, 2024 [Enterprise Products]- Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) today announced that its refined products truck terminal serving the Grand Junction, Colorado and Moab, Utah areas is now in service, marking the completion of the second phase of the company’s Texas Western Products (“TW Products”) system. Located in Grand County, Utah, the facility features storage capacity of 400,000 barrels for gasoline and diesel and can load trucks at a rate of up to 20,000 barrels per day (“BPD”). In addition, the terminal is strategically located with direct access to Interstate 70, allowing it to serve markets in both eastern Utah and western Colorado.
The new terminal joins three other facilities that began service earlier in 2024, which are located in Gaines County, Texas and the Jal and Albuquerque areas in New Mexico. Combined, the four terminals offer 1.5 million barrels of refined products storage capacity and can load up to 63,000 BPD.
“The TW Products system highlights two of Enterprise’s core strengths: the creativity and determination of our people, and the flexibility of our integrated midstream network,” said A.J. “Jim” Teague, co-chief executive offer of Enterprise’s general partner. “By repurposing a portion of our existing pipeline assets to connect traditionally underserved gasoline and diesel markets in the southwest United States to the largest refined products complex in the country, we are able to provide customers with improved access to more reliable and diverse supplies, resulting in lower motor fuel costs for consumers. We believe the TW Products system will increase in importance to this region given the recently announced and potential future refinery closures in the state of California.”
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.
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.
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