Phillips 66 on Wednesday broke ground on its new liquefied petroleum gas (LPG) export terminal in Freeport, Texas. The new Freeport terminal will provide 4.4 million barrels per month of LPG sourced from Phillips 66’s Mont Belvieu, Texas, fractionator and its Sweeny complex in Old Ocean, Texas. The new terminal, which will be located at the site of Phillips 66’s existing marine terminal in Freeport, will allow the company to tap growing demand for LPG in European and Asian markets.
The Freeport LPG terminal is part of a $3 billion project Phillips 66’s board approved in February that also includes a 100,000-barrel-per-day NGL fractionator near the company’s Sweeny refinery. The export terminal is expected to be complete in 2016.
