FREEPORT - Phillips 66 has broken ground on its $1 billion liquefied petroleum gas export terminal — its first ever — to sell propane, butane and more to international markets. The terminal will export 4.4 million barrels of fuel a month to countries in Europe and Asia.
The project, which is expected to be completed mid-2016, is part of a $3 billion Phillips 66 capital investment in the Houston region, which also includes a new fractionator at its Sweeny Refinery location.
The new LPG export terminal is at Phillips 66's existing marine terminal in Freeport. The company will get the fuel from its Sweeny complex in Old Ocean and its Gulf Coast Fractionators facility in Mont Belvieu.
Phillips 66 spun off in 2012 as a midstream and refining company from ConocoPhillips, which is focusing on energy exploration and production. Low natural gas prices from the nation's shale boom have helped fuel Phillips 66's infrastructure growth.
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