$2 billion Gas Pipeline Coming to Texas

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$2 billion Gas Pipeline Coming to Texas

Mon, 08/14/2017 - 13:20
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$2 billion Gas Pipeline Coming to Texas (Sega_K / Shutterstock)
$2 billion Gas Pipeline Coming to Texas (Sega_K / Shutterstock)

Permico Energia said this week in Houston that it will build a 820 km natural gas pipeline beginning next year that would connect with the Permian Basin in western Texas.

Part of the project will include a fractionator plant to separate the natural gas into ethane, propane and butane. Once complete the plant is expected to employ up to 100 people including field workers, project managers,executives. The plant will also include a 563 km pipeline system that will transport product to other Texas Gulf Coast industrial markets, including the Mont Belvieu area near Houston.

One of the Coastal Bend's advantages is its deep-water access at the Port of Corpus Christi. Such access has become increasingly scarce in energy markets along the Gulf of Mexico.

Jeff Beicker, CEO of Texas Permico Partners, a subsidiary of Permico Energia that started in 2015, said financing for the project has been secured from South Korean investment banking and pension fund institutions.

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