HOUSTON, TEXAS (Ian Silverman, Energy Analytics Institute, 4.Feb.2025) — ONEOK, Inc. and MPLX LP entered into definitive agreements to form joint ventures to build a new large-scale 400,000-barrel per day (b/d) $1.4bn liquefied petroleum gas (LPG) export terminal in Texas City, Texas as well as a new 24-inch pipeline from ONEOK’s Mont Belvieu, Texas, storage facility to the new terminal valued at $350mn.
The export terminal joint venture (JV) Texas City Logistics LLC (TCX) partners ONEOK (WI 50%) and MPLX (WI 50%), while MPLX is charged with constructing and operating the facility, which is expected to be completed in early 2028, ONEOK said 4 Feb. 2025 in an official statement.
The export terminal will require a total investment $1.4bn and will leverage Marathon‘s existing location and infrastructure providing construction timing and cost benefits, according to ONEOK.
The 400,000-b/d loading throughput is expected to be primarily low ethane propane (LEP) and normal butane (NC4), with ONEOK and MPLX each contractually reserving 200,000-b/d for their respective customers.
The pipeline JV MBTC Pipeline LLC is owned by ONEOK (WI 80%) and MPLX (WI 20%), with ONEOK constructing and operating the pipeline. ONEOK and MPLX’s share of the total investment in the pipeline are expected to be $280mn and $70mn, respectively, for a total of $350mn.
ONEOK’s share of capital investment for these projects is expected to be $1bn.
____________________
By Ian Silverman reporting from Houston. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
