Enterprise Expects Impact of Hurricane Katrina Minimal on its Facilities
Enterprise Products Partners reports that it has performed a preliminary assessment of the impact of Hurricane Katrina on its major facilities on the Gulf Coast.
Over the past two days, we have performed initial assessments on our major assets onshore in Louisiana and Mississippi and offshore in the Gulf of Mexico through onsite or aerial inspections and have noted only minimal structural damage to a few of our facilities.
Eight of our eleven natural gas processing plants on the Gulf Coast are currently operational or are expected to be operational within a few days. Three of our natural gas processing facilities, the 60.3% owned Toca, 29.4% owned Yscloskey and 13.1% owned Venice plants, were impacted by flooding, but did not appear to have significant structural damage. Based on initial onsite inspections, we believe the Toca facility, which is operated by Enterprise, could be operational within a few weeks after the flood waters recede. Onsite inspections are required to fully assess the status of the Yscloskey and Venice plants. Both of these plants are operated by a third party.
Three of our five NGL fractionators and our propylene fractionator in Louisiana are currently operational or expected to be operational within a few days. We have completed initial onsite inspections of our 100% owned Norco fractionator and expect that it will be operational within a few weeks. Our 13.1% owned VESCO NGL fractionator, which is adjacent to the Venice natural gas processing plant, was also impacted by flooding and will require further inspection by the third party operator.
We have performed onsite or aerial inspections of the partnership's seven offshore platforms, including the Marco Polo, Viosca Knoll, Garden Banks and Falcon Nest platforms, and have not detected any material damage. Our large platforms at Ship Shoal 332, which are the initial injection point for the Cameron Highway Oil Pipeline System and an intermediate injection point for the Poseidon Oil Pipeline, are fully operational.
Our NGL storage facilities in Louisiana are also fully operational. The partnership's natural gas and NGL storage facilities near Hattiesburg, Mississippi did not suffer any damage, but have been affected by a power outage. The local utility is currently working to restore power and the facility is expected to be operational in a few days. Until power is restored, one of the natural gas storage facilities is limited to making withdrawals of gas for deliveries to pipelines.
The partnership has been able to utilize its integrated system to provide NGL products from its complex at Mont Belvieu, Texas to industrial consumers in Louisiana whose traditional NGL supplies have been disrupted due to the storm.
Enterprise will continue to evaluate the aggregate impact of Hurricane Katrina on our facilities and operations and will endeavor to return all of its facilities to normal operations as soon as possible.
Enterprise Products Partners L.P. is one of the largest publicly
traded energy partnerships with an enterprise value of over $14
billion, and is a leading North American provider of midstream energy
services to producers and consumers of natural gas, NGLs and crude
oil. Enterprise transports natural gas, NGLs and crude oil through
32,500 miles of onshore and offshore pipelines and is an industry
leader in the development of midstream infrastructure in the Deepwater
Trend of the Gulf of Mexico. Services include natural gas
transportation, gathering, processing and storage; NGL fractionation
(or separation), transportation, storage, and import and export
terminaling; crude oil transportation and offshore production platform
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