Oneok announces joint ventures with MPLX to build LPG export terminal at premier location on US Gulf Coast

Texas City Logistics LLC (TCX), the export terminal joint venture, is owned 50% by ONEOK and 50% by MPLX, with MPLX constructing and operating the facility, and is expected to be completed in early 2028. ONEOK's and MPLX's share of the total investment in the export terminal is expected to be approximately US$700 million each for a total of US$1.4 billion. The export terminal will leverage Marathon's existing location and infrastructure providing construction timing and cost benefits.

The 400 000 bpd loading throughput is expected to be primarily low ethane propane (LEP) and normal butane (NC4), with the companies each contractually reserving 200 000-bpd for their respective customers.

MBTC Pipeline LLC, the pipeline joint venture, is owned 80% by ONEOK and 20% by MPLX, with ONEOK constructing and operating the pipeline. ONEOK's and MPLX's share of the total investment in the pipeline are expected to be approximately US$280 million and US$70 million, respectively, for a total of US$350 million.

ONEOK's share of capital investment for these projects is expected to be approximately US$1.0 billion.

"We are excited to collaborate with MPLX on these strategically located projects which expand and extend our NGL value chain providing additional optionality and value to our customers," said Pierce H. Norton II, ONEOK president and chief executive officer. "Given our high expectations for future growth and demand for more energy infrastructure, including export capacity, these projects with MPLX complement our disciplined capital allocation strategy."

ONEOK deliver energy products and services vital to an advancing world. They are a midstream operator that provides gathering, processing, fractionation, transportation and storage services. Through their approximately 60 000 mile pipeline network, they transport the natural gas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest diversified energy infrastructure companies in North America, ONEOK is delivering energy that makes a difference in the lives of people in the US and around the world.

Read the article online at: https://www.tanksterminals.com/terminals/05022025/oneok-announces-joint-ventures-with-mplx-to-build-lpg-export-terminal-at-premier-location-on-us-gulf-coast/