London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950
info@mrcplast.com

Our Clients

Order Informer

 
Home > News >
 

Enterprise sees Q2 profit lift amid higher gas pipeline, processing volumes

July 29/2021

MOSCOW (MRC) -- Enterprise Products Partners reported a rise in second quarter profit 28 July as an ongoing recovery in demand spurred increases in natural gas pipeline and processing volumes, said the company.

Enterprise Products Partners Q2 sales and operating income improved year on year, reflecting the recovery in demand as the global economy continued to reopen from coronavirus pandemic-related lockdowns.

NGL, crude oil, refined products & petrochemical pipeline volumes as a combined category also advanced quarter on quarter. With the continued improvement in market conditions, the US operator of pipelines, processing plants, and export and storage facilities sees opportunities to potentially increase spending on growth projects over the next two years beyond current estimates, following the significant cuts that were first implemented in 2020 because of the coronavirus pandemic.

It also is considering emissions reduction initiatives, though pricier proposals such as carbon capture could take years and require policy changes in Washington, executives said during an investor conference call. In the near term, Enterprise continues to look for opportunities to repurpose pipelines to carry different resources, depending on demand.

The US-based midstream energy and petrochemicals company saw improved demand for crude oil, natural gas liquids (NGLs), petrochemicals and refined products. 

Propylene plant production volumes rose to 113,000 bbl/day, from 72,000 bbl/day in the Q2 2020. Propylene production included a 16,000 bbl/day increase from Enterprises propane dehydrogenation (PDH) facility, which had 46 days of unplanned downtime in Q2 2020.

As per MRC, on June 26, a technological failure occurred at the No. 2 propylene splitter in Mount Belvieu, Texas, USA. In particular, according to the statement, an ethane compressor at this plant with a capacity of 450 thousand tons of propylene per year was closed due to a malfunction. For about 8 hours, chemical emissions into the atmosphere were observed. The breakdown was repaired on the same day.

Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 953,400 tonnes in the first five months of 2021, which virtually corresponded to the same figure a year earlier. High density polyethylene (HDPE) shipments decreased. At the same time, PP shipments to the Russian market were 607,8900 tonnes in January-May 2021, up by 33% year on year. Shipments of homopolymer PP and PP block copolymers increased, whereas deliveries of PP random copolymers decreased.

Enterprise Products Partners L.P., headquartered in Houston, USA, is a US based gas and crude oil company that manufactures petrochemicals such as propylene.


mrcplast.com
Author:Anna Larionova
Tags:PP, PE, propylene, ethylene, Enterprise Products, Russia, USA.
Category:General News
|
| More

Leave a comment

MRC help

 


 All News   News subscribe