2015 Analyst Meeting – Enterprise Products Partners LP

Enterprise Products Partners LP · Feb 25, 2015 · 204 slides

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ENTERPRISE PRODUCTS PARTNERS L.P. ANALYST CONFERENCE February 25, 2015 ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
MEETING AGENDA 1. Michael Creel Welcome and Opening Remarks 2. Jim Teague Flexibly by DesignProfitable by Plan 3. Tony Chovanec Supply / Demand Fundamentals 4. Bill Ordemann Onshore Crude Oil, Natural Gas and Offshore 5. Laurie Argo…
WELCOME AND OPENING REMARKS Mike Creel Chief Executive Officer ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
ENTERPRISE PRODUCTS PARTNERS L.P. Flexible by design One of the largest integrated midstream energy companies Diversified businesses, geography and sources of cash flow History of successful execution: Approximately 24 billion of…
2014 ACCOMPLISHMENTS Operational / Commercial Record volumes Liquid pipeline volumes (5.3 MMBPD) NGL fractionation volumes (824 MBPD) Feebased natural gas processing volumes (4.8 Bcf/d) Propane export loading (83 MMBbls) One of…
SUCCESSFUL EXECUTION IN CONSTRUCTION OF CAPITAL PROJECTS Since 2009, completed 98 major capital projects totaling 15 billion of gross investment approximately 2% under budget 4% % Over / (Under) Budget 2% 2.6% 0% 1.0% 2.0%…
2014 ACCOMPLISHMENTS Financial Record gross operating margin of 5.3 billion (10% increase vs. 2013) Record recurring DCF from operations of 4.0 billion (8% increase vs. 2013) Issued 4.75 billion of senior unsecured notes Including…
STRONG FINANCIAL RESULTS Gross Operating Margin 4.5 Distributable Cash Flow (DCF) (1) 5.3 4.1 4.1 4.8 3.8 3.8 5.0 4.4 3.9 3.9 3.5 3.7 4.0 3.3 Billions Billions 3.0 3.0 2.5 2.3 2.8 2.0 2.2 1.5 1.0 0.0 0.5 2010…
DIVERSIFIED SOURCES OF CASH FLOW BACKED BY FEEBASED BUSINESS MODEL (1) 5.3 Billion Gross Operating Margin 4 Year Growth Capital Allocation 20132016E For 12 months ended December 31, 2014 12.8 Billion (predominantly feebased)…
HISTORY OF EXECUTION 33B Organic Investment / 24B Acquisitions Since IPO Major Growth Capital Investment Oiltanking 2step acquisition 9.0 completed Oct 14 & TEPPCO acquisition / Feb 15 / expecting Seaway reversed (2Q12)…
2015: CHALLENGING COMMODITY ENVIRONMENT Growth capital continues Developing new projects: ethane export terminal, Permian South Eddy processing plant, Eagle Ford JV crude gathering and export dock Investment grade credit and…
EPD TOTAL RETURN Compared to 9 Other Asset Classes 15-Year 10-Year 5-Year 3-Year 2006 2007 2008 2009 2010 2011 2012 2013 2014 1 1 1 1 CAGR CAGR CAGR CAGR REIT Commodities IG Bonds MLP Index EPD EPD EPD EPD REIT Small Cap Equity…
FLEXIBLE BY DESIGN PROFITABLE BY PLAN Jim Teague Chief Operating Officer ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
EPD 20132014 DEMAND PROJECTS ATEX Ethane Pipeline: 1,265 mile, 16 and 20 pipeline providing badly needed take away to Appalachia producers and significant incremental Appalachia ethane to Gulf Coast petrochemicals Aegis Pipeline:…
2014 MILESTONES A COMMON THEMEWATER Ethane Export Facility Processed Condensate Ruling Purchase of Oiltanking April 2014 July 2014 November 2014 Enterprise Building Ethane US Ruling Loosens FourDecade Enterprise Products Offers…
EPD PROSPERING THRU THE CYCLES FLEXIBLE BY DESIGN 45 140 cpg Oiltanking TEPPCO Rockies Gathering Acacian Gas GulfTerra Shell / Tejas Eagle Ford, Yoakum MAPL, Seminole Meeker, Pioneer 40 120 cpg 35 100…
INTEGRATIONTHE SYSTEMS Midstream Energy Services Natural Gas Natural Gas Pipelines Storage Pipelines NGL Exports Ethane Propane Natural Gas Pipelines Gas Processing Butane IsoButane Natural N Gasoline NGL Pipelines Gas…
REAL INTEGRATION: THE PEOPLE HOW WE START EVERY DAY AT ENTERPRISE ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 6
ENTERPRISE HOUSTON SHIP CHANNEL: LEADING PETROLEUM PRODUCTS AND LPG EXPORT FACILITIES ON U.S. GULF COAST ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 7
EPD LPG FACILITIES 1985 BUILT FOR LPG IMPORTS Original Propane Import Facilities ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 8
DOUBLINGTHE PREMIERE LPG FACILITY IN THE U.S. 14,000 BPH, using two dedicated pipes from Mont Belvieu (7.5 MMBbls/month) Upon completion of the expansion: New 30 pipeline from Mont Belvieu Maximum capacity 29 ships / month Docks…
MORGANS POINT: CONSTRUCTION OF A WORLD SCALE ETHANE EXPORT FACILITY HAS BEGUN ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 10
EXPORT CAPACITY: LINKING U.S. SUPPLIES TO GLOBAL DEMAND Beaumont West Beaumont East Mont Enterprise Belvieu HSC Morgans Point Ship Barge Under Product ECHO Docks Docks Construction Enterprise Multi 2 2 2 Texas City…
EPD THE INDUSTRY LEADER IN CREATING MARKET OUTLETS FOR U.S. PRODUCERS ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 12
NORTH AMERICA FULL BEFORE IMPORTS SOMETHINGS GOT TO GIVE On balance, by 2020 the U.S. & Canada should be self sufficient in crude (assuming no exports) ButMedium and Heavy crudes from Latin America and Middle East (currently 3.5…
SUPPLY / DEMAND FUNDAMENTALS Tony Chovanec Senior Vice President ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
OVERVIEW Crude Oil Price Downturn and Forward Markets Core Capabilities of U.S. Producers and Why There is No Turning Back Impact of Lower Prices on Production Forecasts of Crude Oil, NGLs and Natural Gas Growing Importance of…
SAUDI ARABIA, KUWAIT AND U.A.E. TRIP AN ALREADY OVERSUPPLIED MARKET Summer 2014: Energy economists including IEA begin 120 to publish reduced demand forecasts Oct and Nov as economies in 2014: KSA unusual price 110 China…
NOT ALL OIL IS CREATED EQUAL REGIONAL PRICES: CURRENT VS. 2018 WCS: 35 / 50 (net backs to oil sands are lower) Bakken: 41 / 56 NYMEX WTI: 50 / 65 WTS: 47 / 62 50% of U.S. Refining Capacity is inside this oval Eagle…
FORWARD PRICES HAVE BEEN SEARCHING FOR A NEW BENCHMARK7080 June 2008: Market signaling end 150 to cheap crude 140 130 July 2013: 120 Prices increase but shale production puts curve in 110 backwardation sub 100 100…
VALUE OF NGLS ALSO IMPACTED BY CURRENT LOW PRICES Rich Gas Value per Mcf of Gas Forward 12 Month Strip [Last Year 6.26] Natural Gasoline: 0.12 4.0 Iso Butane: 0.03 3.77/Mcf Normal Butane: 0.02 Ethane 0.00 3.8 Propane: 0.04…
WORLD ETHYLENE CASH COST ETHANE PLENTIFUL AND STABLE Cash Cost CPP 70 Asia Naphtha 60 50 40 NWE Naphtha 30 U.S. Propane 20 10 U.S. Ethane 0 Jan13 Apr13 Jul13 Oct13 Jan14 Apr14 Jul14 Oct14 Source: EPD Fundamentals…
U.S. NONCONVENTIONAL SUPPLIES: NO TURNING BACK ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
SHALE DEVELOPMENT HAS QUICKLY MOVED TO STACKED PLAYS 4 4 5 4 3 4 2 5 LEGEND EPD Gas 7 EPD Crude Oil 2 EPD Liquids 3 9 Oil & Rich Gas Oil / Rich Gas / 4 Lean Gas Lean Gas 0 100 200 300 400 Source: EPD…
INDICATIVE ECONOMICS FOR KEY OIL PLAYS Before / After Drill and Complete Cost Improvements Average and HighGrade Wells with NGL Upgrade 100 15% Avg w/D&C 15% Average 15% HG w/D&C 15% Highgrade Avg 90 Pricing Assumes 20% BFIT…
PLENTIFUL NATURAL GAS AVAILABLE BELOW 5; BELOW 4; 3.50 6.00 Avg w/D&C 15% 15% Average HG w/D&C 15% 15% Highgrade Avg 5.00 Pricing Assumes 20% BFIT ROI 4.00 Current 3.00 2.00 1.00 0.00 Source: EPD Fundamentals…
INDICATIVE U.S. CRUDE FORECASTS Based on 36 Month Forward Markets MMBPD U.S. Crude and Condensate Sensitivities 13 13 Base Case December to Growth, MBPD December 85 12 2014 to 2015 535 12 2015 to 2016 339 2016 to 2017 172 7075…
INDICATIVE NGL PRODUCTION FORECASTS Based on 36 Month Forward Markets MBPD U.S. NGL Sensitivities 6,000 6,000 5,500 85 5,500 7075 5,000 5,000 6065 4,500 4,500 4,000 4,000 Oct14 3,500 3,500 Jan15 High Jan15 Base 3,000…
INDICATIVE NATURAL GAS PRODUCTION FORECASTS Bcf/d U.S. Gas Forecast Sensitivities 105 105 100 100 95 95 90 90 85 85 80 80 Jan15 High 75 Oct14 75 Jan15 Base 70 70 2014 2015 2016 2017 2018 2019 2020 Base Forecast is…
EAGLE FORDTHE CONTINUING IMPACT OF TECHNOLOGY Year 1 Year 3 Year 5 Year 7 2010 2012 2014 2016 Primary Pay Zone Lower Eagle Ford Average Well Spacing, acres 320 80 60 50 Lateral Length, feet 3,000 5,000 5,000 5,000 Frac Stage…
GULF COAST CENTRIC NATURAL GAS DEMAND Oil Sands (Demand) 1.01.5 RC 0.71.5 NE EG West 1.0 MW EG EG 1.0 2.0 Electric Generation* 4.07.0 (EG) SE Industrial / Chems 2.04.0 Gulf EG EG 1.0 NGVs 1.52.5 1.0 LNG and…
GEOPOLITICAL SUPPLY AND DEMAND FUNDAMENTALS ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
LIQUID HYDROCARBONS DEMAND GROWTH: DOMINATED BY EMERGING MARKETS World Liquid Hydrocarbon Consumption by Region MMBOED IEA WOE 2014, Current Policies Scenario 40 35 NonOECD Asia 30 25 20 United States 15 Europe Middle…
THE WORLD IS A DANGEROUS PLACE Norway Canada Russia OPEC Production MBPD United States Saudi Arabia 9,700 Iraq Iran Kuwait Algeria Libya Iraq 3,900 Mexico Saudi Qatar Iran 2,800 Arabia United Arab Venezuela Kuwait…
HAS PEACE BROKEN OUT IN THE MIDDLE EAST Russia 10 MMBPD Ukraine conflict Ukraine Sanctions Ethnic conflict (Ukrainian vs. Russian) Chechnya Nato vs. Russia Stagnating economy Iraq 3.5 MMBPD Regional SunniShia conflict Syria…
WHAT HAPPENS TO OPEC STABILITY IN A LOW PRICE ENVIRONMENT Sources: Deutsche Bank, Thomson Reuters via Economist.com/graphicdetail ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 21
WHY COULDNT OPEC PERFORM WITH HIGH PRICES Why, despite price increases from 30 to 100+, couldnt OPEC meet growing demand, opening the door for U.S. and Canada NonConventional Development Are there enough low cost OPEC reserves and…
ONSHORE CRUDE OIL, NATURAL GAS AND OFFSHORE Bill Ordemann Group Senior Vice President ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
ONSHORE CRUDE OIL A Continuing Growth Story ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
ONSHORE CRUDE OIL ASSETS Gateway to U.S. Gulf Coast Refining and Tidewater MBPD 2,000 Pipeline Throughput O k l a h o m a Terminal Cushing Eagle Ford Terminal (JV) 1,541 1,500 1,278 Seaway Pipeline (JV) 1,175 Red River Gathering…
CRUDE OIL SUPPLY AND MARKETING Serving Producers and EndUsers Supply and Marketing Supply and Marketing Volumes 1,000 961 aggregates supply from 900 producers and transports to hubs for delivery to domestic 800 and…
CRUDE OIL SUPPLY AND MARKETING Maximizing the Value of EPD Assets Aggregated supply touches EPD Fees Paid to EPD Crude Oil Assets by Crude Oil Supply and Marketing assets through every step of the 700 647 value chain 600 EPD…
SEAWAY CRUDE PIPELINE COMPANY LLC Reversal / Expansion Project Complete Formed in March 2012 by Enbridge and EPD Cushing Reversed flow on pipeline to NorthSouth with 150 MBPD capacity in May 2012 O k l a h o m a A r k a n…
SEAWAY JONES CREEK / FREEPORT FACILITIES Poised for Canadian Exports Jones Creek Terminal 2.6 MMBbls operational storage Inbound connections from Seaway / Seaway Loop and Freeport docks Outbound connections to Seaway / ECHO, P66…
SEAWAY TEXAS CITY FACILITIES Serving Refiners, Imports and Exports Texas City Terminal 2.6 MMBbls operational storage; 0.6 MMBbls under construction Inbound connections from Seaway 36 / ECHO, CHOPS, DOE and Texas City docks…
EPD ECHO TERMINAL Center of Operations for Crude Oil Pipeline System 7.4 MMBbls storage (including 2 Seaway tanks) Primarily pipeline operational storage Available merchant storage soldout through 2020 0.9 MMBbls (3 tanks) permitted…
EPD AND SEAWAY DISTRIBUTION Unparalleled Connectivity Moore Road From Cushing 36/24/24 EPD Houston Ship Channel 24 Galena Park Sealy 30 Baytown 24 24 45 draft XOM VLO H.R. PRSI Shell Beaumont Katy 24 Rancho Speed…
EPD HOUSTON SHIP CHANNEL TERMINAL A Recent Addition Houston Ship Channel Terminal Over 20 MMBbls storage with 3.1 MMBbls under construction Room to grow by more than 5 MMBbls on 58 acre Port of Houston lease Ship dock 1A and…
EPD HOUSTON SHIP CHANNEL TERMINAL Appelt I, II and III Expansions Houston Ship Channel Terminal Inbound Crude Oil Connectivity EPD ECHO Terminal Magellan Longhorn and BridgeTex Sunoco Kilgore Kinder Morgan Eagle Ford Pipeline…
EPD BEAUMONT WEST TERMINAL Crude Oil Coming Soon Crude Tank Expansion Beaumont West Terminal 5.6 MMBbls storage (primarily products and petrochemicals) 4.1 MMBbls crude oil storage under construction New Finger Pier…
EPD BEAUMONT WEST TERMINAL Room to Grow Beaumont West Inbound Crude Oil Connectivity CHOPS Crude Oil Shell HoHo (planned) Expansion TransCanada Marketlink (planned) ExxonMobil Pegasus (planned) Seaway Beaumont Lateral from ECHO…
NATURAL GAS Reaping the Benefits of Our Investments ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
U.S. NATURAL GAS DEMAND GROWTH Dominated by the Gulf Coast Cumulative Bcf/d Natural Gas Demand Growth U.S. Gulf Coast Bcf/d 4.0 16 3.5 14 3.0 12 Electric Generation 1.02.0 2.5 10 Industrial / Chems 2.03.5 2.0 8 LNG 6.57.5…
NATURAL GAS MARKETING Serving Producers and EndUsers 60% Transportation Movements by Natural Gas Marketing 2.5 Aggregate supply from the 2.0 wellhead by providing 1.5 gathering, treating and Bcf/d 1.0 processing…
TEXAS NATURAL GAS PIPELINE NETWORK Aggregating the Supply Residue Market Header Invested 4+ billion in Eagle Ford 3rd Party Pipelines 2.7 Bcf/d Deliverability development projects from 20102014 1 Bcf/d Yoakum gas processing…
TEXAS NATURAL GAS PIPELINE NETWORK Serving the Growing Demand Almost 10,000 miles of rich gathering and lean gas transmission pipelines 13 Bcf working storage 340+ connected endusers Carthage Waha 73% of total annual revenue…
LOUISIANA NATURAL GAS PIPELINE NETWORK Connecting Supply and Demand Louisiana Intrastate Systems 1,650 miles of gathering and 2.5 Natural Gas Volumes 2.1 2.1 2.1 2.2 transmission pipelines 2.0 100+ connected endusers 1.5…
OFFSHORE GULF OF MEXICO Still a Key Component of U.S. Energy ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
GULF OF MEXICO ACTIVITY Focus on Crude Oil Discoveries Prospects Lucius Field Online WD 6,800 ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 22
GULF OF MEXICO CRUDE OIL PRODUCTION On the Rise Post Macondo 2.0 April 2011 1.8 5 floating rigs + 4 platform rigs = 9 deep water rigs 1.6 1.4 Oil + Condensate, MMBPD 1.2 April 2010 1.0 Macondo oil spill 33 floating…
EPD OFFSHORE ACTIVITY Lucius Project Complete Southeast Keathley Canyon Pipeline (EPD / Genesis JV): 48 miles 18 gas pipeline repurposed to crude oil plus 103 miles new 18 pipeline Design capacity of 115 MBPD Ties into Enterprise…
PROCESSED CONDENSATE EXPORTS Pioneered by Enterprise ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
PROCESSED CONDENSATE From Lease to Export Export Markets Lease Condensate Condensate Segregated Production and Distillation Transport, Field Separation Process Storage and Export Diluent Source: EPD Petrochemical…
PROCESSED CONDENSATE EXPORT LOGISTICS An Integrated System Not a Dock Field trucking, gathering and storage Segregated pipeline transportation Segregated storage Export facilities and docks ALL RIGHTS RESERVED.…
EPD: INDUSTRY LEADER CONNECTING PRODUCERS WITH PREMIUM MARKETS EPD has exported eleven processed condensate cargoes to date (5.6 MMBbls) and is contracted to load at least twentyone additional vessels by year end (13…
UNREGULATED NGL BUSINESS Laurie Argo Senior Vice President ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
LEADING BUSINESS POSITIONS ACROSS MIDSTREAM ENERGY VALUE CHAIN Midstream Energy Services Natural Gas Natural Gas Pipelines Storage Pipelines Ethane NGL Exports Propane Natural Gas Pipelines Gas Processing Butane IsoButane…
EPD INTEGRATED YGRADE SYSTEM 1.1 MMBPD Fractionation Capacity Companywide Mont Belvieu Fracs Hobbs Frac 670 MBPD 75 MBPD South Texas Fracs 100 MBPD Louisiana Fracs 290 MBPD ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS…
EPD WESTERN AND PERMIAN GAS PROCESSING ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
EPD WESTERN ASSETS A Franchise from Wellhead to Markets Franchise gathering and processing assets located in Green River Basin, Piceance Basin Wyoming and San Juan Basin Pioneer Plant Green River 3.0 Bcf/d cryogenic processing…
PERMIAN GATHERING AND PROCESSING Growth Continues in the Delaware Basin Announced construction of a new 200 MMcf/d cryogenic gas plant in Eddy County, NM 70 miles of gathering lines 70 mile extension of Chaparral Ygrade system…
PANOLA PIPELINE JOINT VENTURE ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
PANOLA EXPANSION AND JOINT VENTURE Expanding to Accommodate New Production MarkWest Joint venture with MarkWest, DCP Crossroads Hill Lake DCP and Anadarko (15% each) DCP East Texas Carthage Marlin EPD retains 55% Enbridge…
MONT BELVIEU FRACTIONATION AND STORAGE ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
EPD MAIN PLANT COMPLEX Frac IX N PDH Frac VIII Frac VII Frac VI Frac V Frac IV PPS IV BEF PPS II PPS I Frac II Frac I Frac III West Terminal 100 Isom 800 Isom 200 Isom ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS…
EPD MONT BELVIEU STORAGE Flexibility, Reliability and Premiere Connectivity Room to Grow North Storage 10 Wells Main Plant 28 MMBbls Complex East Storage West Storage 15 Wells 10 Wells 66 MMBbls 16 MMBbls Map Data 2012…
LPG EXPANSION AND ETHANE TERMINAL ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
THE LARGEST LPG EXPORT FACILITY IN THE U.S. AND STILL GROWING 14,000 BPH, using two dedicated pipes from Mont Belvieu (7.5 MMBbls/month) Upon completion of the expansion: New 30 pipeline from Mont Belvieu Maximum capacity 29…
MORGANS POINT ETHANE EXPORT FACILITY Currently 160 MBPD of Contracted Volume (80% of capacity) ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 14
NGL MARKETING AND SUPPLY Al Martinez Senior Vice President ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
WHATS INSIDE THE BLACK BOX ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 2
WHATS INSIDE THE BLACK BOX ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 3
ENTERPRISE ASSETS NOURISH MARKET DEMANDS O P P O T R R T E U E N I T Y Gathering Storage Distribution Transportation Processing Fractionation ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 4
NGL MARKETING UTILIZES ENTERPRISE ASSETS TO REACH HIGHER Ratability Product Basis Upgrade Exports Regional Imports Wholesale Backwardation Contango O P P O T R R T E U E N I T Y Gathering Storage…
NGL MARKETING A Significant Contributor to Growth in the Enterprise Asset Base NGL Marketing Fees Paid to EPD Assets 1,600 1,400 1,200 Other 1,000 Truck and Rail in Millions Terminaling 800 Storage Isomerization 600…
YOU SEE ASSETS, WE SEE FLEXIBILITY ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 7
BUTANE ISOMERIZATION Feedstock and Finished Product Flexibility Feedstocks Product Demand IC4 HPIC4 CC4 NC4 (ISOM Grade) ISOM HPNC4 IC4 (GPA) NC4 (Refinery Grade) Process NC4 (ISOM Grade) C5+ IC4 Volumetric Gain…
LOUTEX Connects Texas and Louisiana Supplies / Markets Supplies / Markets Transportation Transportation Fractionation Fractionation Storage Storage Product Upgrade ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 9
NGL TRADING HUBS Conway, KS Mont Belvieu, TX ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 10
SUPPLY OPTIONS Supply (Canada) Supply (Northeast) Supply (Rockies) Supply (Southeast) Supply (Eagle Ford) ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 11