Buckeye commissions new condensate splitter facility in South Texas
Buckeye Partners announced Wednesday that the 50,000-bpd condensate splitter facility at Buckeye Texas Partners LLC is commissioned and in commercial service under a long-term take-or-pay tolling agreement.
“The completion of commissioning and start-up of our condensate splitters represents a significant milestone in the first phase of the expansion at our South Texas facilities,” CEO Clark C. Smith said.
“I would like to recognize the hard work and commitment of the Buckeye employees and contractors who worked tirelessly to complete this complex project safely and successfully," he continued.
"The completion of the condensate splitters and the liquid petroleum gas (LPG) refrigerated storage, as previously announced, represent substantial progress towards completion of Buckeye’s planned build-out of the South Texas assets.”
In addition to the splitter capabilities, these facilities will offer five marine docks, over 6 million bbl of petroleum storage capacity with rail and truck loading/unloading capability and three field gathering facilities with pipeline connectivity to the condensate splitters and docks.
All aspects of this expansion are fully contracted under long-term agreements with Trafigura Trading.
“These initiatives are the largest growth capital projects in Buckeye’s long history and are expected to contribute significant incremental cash flows," Smith said. "The completion of these splitting units further bolsters our South Texas assets as a leading export hub on the Gulf Coast, with the ability to aggregate, store, process and distribute many different petroleum products."
Comments