HOUSTON, July 01, 2021–(Enterprise WIRE)–Enterprise Products and solutions Partners L.P. (NYSE: EPD) and NOVA Chemical compounds Corporation (“NOVA Substances”) these days introduced that a subsidiary of Enterprise has obtained a wholly owned subsidiary of NOVA Chemicals, which operates an ethylene storage organization and trading hub in Mont Belvieu, Texas. NOVA Chemical substances, a person of the greatest merchant ethylene producers and entrepreneurs on the U.S. Gulf Coastline, will be a extensive-term storage customer in the Enterprise technique.
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“The acquisition, which presents Company possession of the most significant ethylene current market hub in Texas because it was set up in 2001, will enhance Enterprise’s very own escalating ethylene network in the area,” reported Chris D’Anna, senior vice president, Petrochemicals of Enterprise’s common lover. “The blended program provides multiple positive aspects for producers, people and traders, these types of as elevated physical connectivity, better market place liquidity and pricing transparency, as effectively as improved access to Enterprise’s ethylene midstream products and services, such as our export terminal and increasing Gulf Coast pipeline process.”
“This transaction provides the ideal long-expression solution for the Mont Belvieu ethylene storage business and buying and selling hub, allowing NOVA to aim on our main organization of ethylene and polyethylene output, which includes the safe and prosperous completion of our planet-class Sophisticated SCLAIRTECH technologies facility in Ontario that will deliver recycle ready resins for sustainable packaging alternatives,” said John Thayer, senior vice president revenue and internet marketing for NOVA Chemical compounds.
Business Goods Partners L.P. is one of the greatest publicly traded partnerships and a primary North American company of midstream power companies to producers and customers of normal gasoline, NGLs, crude oil, refined goods and petrochemicals. Our providers incorporate: organic gas gathering, treating, processing, transportation and storage NGL transportation, fractionation, storage and export and import terminals crude oil accumulating, transportation, storage and export and import terminals petrochemical and refined items transportation, storage, export and import terminals and relevant services and a marine transportation small business that operates principally on the United States inland and Intracoastal Waterway systems. The partnership’s property include things like about 50,000 miles of pipelines 260 million barrels of storage capacity for NGLs, crude oil, refined goods and petrochemicals and 14 Bcf of natural fuel storage ability. You should stop by www.enterpriseproducts.com for more information.
NOVA Chemical substances develops and manufactures chemical substances and plastic resins that make everyday existence more healthy, less difficult and safer. Our employees function to ensure wellness, security, stability and environmental stewardship by way of our motivation to Sustainability and Accountable Care®. NOVA Chemicals, headquartered in Calgary, Alberta, Canada, is wholly owned finally by Mubadala Financial investment Organization of the Emirate of Abu Dhabi, United Arab Emirates. Check out NOVA Substances on the World-wide-web at www.novachem.com.
This push release includes “ahead-searching statements” as outlined by the Securities and Exchange Commission. All statements, other than statements of historical fact, integrated herein that address things to do, functions, developments or transactions that Organization and its typical partner count on, feel or anticipate will or could come about in the long run are ahead-looking statements. These forward-hunting statements are issue to dangers and uncertainties that may bring about actual final results to differ materially from anticipations, together with expected approvals by regulatory companies, the chance that the predicted added benefits from these pursuits, activities, developments or transactions are not able to be completely understood, the possibility that charges or issues connected thereto will be higher than predicted, the effects of opposition, and other hazard components bundled in Enterprise’s studies submitted with the Securities and Exchange Fee. Audience are cautioned not to location undue reliance on these ahead-looking statements, which speak only as of their dates. Except as demanded by regulation, Business does not intend to update or revise their respective ahead-on the lookout statements, regardless of whether as a consequence of new information and facts, future activities or or else.
The NOVA Chemical substances emblem is a registered trademark of NOVA Manufacturers Ltd. approved use.
Accountable Treatment is a registered trademark of the Chemistry Industry Association of Canada.
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