ONEOK, Inc. and MPLX LP announced on February 4, 2025, the formation of joint ventures to construct a new large-scale 400,000-barrel per day (bpd) liquefied petroleum gas (LPG) export terminal in Texas City, Texas. They will also build a new 24-inch pipeline connecting ONEOK's Mont Belvieu, Texas, storage facility to the new terminal.
The export terminal joint venture, Texas City Logistics LLC (TCX), is equally owned by ONEOK and MPLX, with a total investment expected to be approximately $1.4 billion, or $700 million for each partner. The terminal is projected to be completed in early 2028 and will primarily handle low ethane propane and normal butane.
The pipeline joint venture, MBTC Pipeline LLC, is 80% owned by ONEOK and 20% by MPLX, with a total investment of $350 million. ONEOK's share of capital investment for these projects is approximately $1.0 billion. This strategic collaboration expands and extends ONEOK's NGL value chain, providing additional optionality and value to its customers and supporting global LPG demand.
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