Enterprise Products Subsidiary Acquires Ethylene Storage Business

By Stephen Nakrosis

Enterprise Products Partners L.P. on Thursday said a subsidiary acquired an ethylene storage business and trading hub in Texas.

Enterprise said its subsidiary acquired the wholly owned subsidiary of NOVA Chemicals and also said NOVA will be a long-term storage customer.

“The acquisition, which gives Enterprise ownership of the largest ethylene market hub in Texas since it was established in 2001, will complement Enterprise’s own growing ethylene network in the region,” said Chris D’Anna, senior vice president, Petrochemicals of Enterprise’s general partner.

Enterprise said its services include natural gas gathering, NGL transportation, and crude oil gathering and transportation.

–Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

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