Louisiana gas processing facility expanding to the tune of $150 million
Enbridge plans to expand the condensate processing capacity of its facility in Venice, Louisiana. The estimated cost of the expansion is $150 million and is it is expected to be completed in late 2013.
The expanded condensate processing capacity will be required to accommodate additional natural gas production from the recently sanctioned Olympus offshore oil and gas development. Natural gas production from Olympus will move to Enbridge's onshore facility at Venice via Enbridge's Mississippi Canyon offshore pipeline where it will be processed to separate and stabilize the condensate.
The expansion will more than double the capacity of the facility to approximately 12,000 bpd of condensate.
"As one of the largest natural gas pipeline operators in the US Gulf Coast offshore waters, we are well positioned to continue to capture attractive opportunities from expected growth in oil and gas production from this area," said Al Monaco of Enbridge. "The Venice facility expansion carries similar favorable financial terms to those negotiated for our other recently announced investments in the Gulf Coast, and our existing Mississippi Canyon Pipeline will also benefit from new gas production from the Olympus development. Most important, we will continue to bring a high standard of safety, reliability and environmental responsibility to the operation of our Gulf Coast facilities and the service provided to our customers."
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