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Apr 1, 2003 12:00 PM

Enterprise Products Partners LP has announced that its operating subsidiary, Enterprise Products Operating LP, has completed the acquisition of 50% of the EPIK natural gas liquid (NGL) export terminal from Idemitsu LPG USA Corp for $19 million. Enterprise now owns 100% of this export terminal.

The EPIK NGL export terminal serves world-scale NGL tankers through its deepwater berth on the Houston Ship Channel. This terminal has the capacity to load refrigerated propane and butane at rates of up to 5,000 barrels per hour, which are the highest loading rates for any NGL export terminal in the United States. The terminal is connected through Enterprise-owned pipelines to the company's fractionation and storage complex in Mont Belvieu TX.