Permico Energia LLC, Houston, plans to build a 510-mile, 24-in. OD NGL pipeline to ship West Texas Permian basin production to a newbuild 300,000-b/d fractionator near Corpus Christi, Tex. The project also includes construction of a 350-mile system of downstream product pipelines accessing both an 8 million-bbl storage site and Gulf Coast industrial users, including the Mont Belvieu, Tex., market.
The company expects to start construction second-quarter 2018 and have the full system in operation by fourth-quarter 2020. Permico is negotiating long-term supply and sales contracts.
Permico secured project funding through long-term commitments from Korean investment banking and pension fund institutions, with Sumitomo Mitsui Bank Corp. serving as lead syndicator for the senior debt financing.
Both Targa Resources Corp. and Enterprise Products Partners LP earlier this year announced plans to build NGL pipelines between the Permian basin and Mont Belvieu (OGJ Online, Apr. 10, 2017; May 26, 2017).
