The US oil refiner Phillips 66 has announced the purchase of EPIC NGL in a US$2.2bn deal, acquiring various subsidiaries and long-haul natural gas liquids pipelines, fractionation facilities and distribution systems in the United States The purchase includes two fractionators (170 kb/d) near Corpus Christi (Texas, US), approximately 560 km of purity distribution pipelines and an approximately 1,400 km NGL pipeline (175 kb/d) linking production supplies in the Delaware, Midland and Eagle Ford basins to the fractionation complexes and to the Phillips 66 Sweeny Hub. EPIC NGL is in the process of increasing its pipeline capacity to 225 kb/d and has sanctioned a second expansion to increase capacity to 350 kb/d. EPIC NGL has also identified a third fractionation facility that could bring its fractionation capacity up to 280 kbl/d.
Phillips 66 seeks to position itself as a leading integrated downstream energy provider by optimizing its Permian NGL value chain. The transaction is subject to customary closing conditions, including required regulatory clearance.
Interested in Global Energy Research?
Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.
This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.