ONEOK said it entered into definitive agreements with MPLX LP on February 4, 2025 to form joint ventures to build a 400,000-barrel per day LPG export terminal in Texas City, Texas, and a 24-inch pipeline.

1. 01

   ONEOK said it entered into definitive agreements with MPLX LP on February 4, 2025 to form joint ventures to build a 400,000-barrel per day LPG export terminal in Texas City, Texas, and a 24-inch pipeline.

2. 02

   MPLX will build and operate the Texas City Logistics LLC (TCX) export terminal joint venture, which ONEOK and MPLX will own 50% each, the company said. It said completion is expected in early 2028. ONEOK said total investment in the terminal is about $1.4 billion, with each company's share about $700 million.

3. 03

   The company said it owns 80% of the MBTC Pipeline LLC joint venture, with MPLX owning 20%, and that ONEOK will build and operate the pipeline. It said ONEOK's share of the total investment of about $350 million is about $280 million, and MPLX's share is about $70 million.

4. 04

   ONEOK said its share of capital investment for these projects is about $1.0 billion. It said the terminal's 400,000-bpd loading throughput will be primarily low ethane propane (LEP) and normal butane (NC4), and that ONEOK and MPLX have each contractually reserved 200,000 bpd for their customers.

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Original filing

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