August 15, 2014 [OPIS] - Phillips 66 began groundbreaking yesterday on its first natural gas liquids export terminal, according to a spokesman with the upstream conglomerate, as part of a multi-year $10 billion investment in its midstream business.
The Freeport LPG terminal, located near its Sweeny complex in Brazoria County, Texas, is expected to be complete around mid-2016, according to spokesman Dennis Nuss. The $1 billion terminal will be capable of exporting some 4.4 million barrels per month of NGLs, or some 36,000 bbl per hour.
During a recent conference call, Chief Executive Greg Garland said there was “solid demand” around NGL exports, with initial target export capacity of eight very large gas carriers (VLGCs) per month for Freeport. But he added that the terminal will eventually be able to go to 12 VLGCs per month.
The project also includes a new 100,000-b/d fractionator at Sweeny, which is already under construction and will be starting up in the second half of 2015. Other new investments at Sweeny will include 32 million bbl of salt cavern storage at Clemens; 550,000 bbl of refrigerated propane storage; and 450,000 bbl of natural gasoline storage.
