Phillips 66 breaks ground on new LPG export terminal, NGL fractionator
Phillips 66 has officially broken ground on new projects to build a natural gas liquids (NGL) fractionator and a liquefied petroleum gases (LPG) export terminal on the Texas Gulf Coast, the company confirmed on Monday.
The NGL fractionatior, located near Phillips 66's existing refinery in Sweeny, Texas, is projected to have 100,000 bpd of capacity and is expected to start up in the 2015 third quarter.
Meanwhile, the LPG export terminal is being built at Freeport, Texas. It is planned to launch operations by mid-2016 with an initial capacity of 4.4 million bbl/month.
The two projects combined represent an investment of over $3 billion and are part of a larger "midstream growth program" for the company.
More than $10 billion in invetment is planned for the overall midstream program in coming years, according to company officials.
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