Enterprise’s Spot Project Receives Record of Decision

Enterprise Products Partners L.P. (NYSE: EPD) today announced that its Sea Port Oil Terminal (“SPOT”) project recently received its Record of Decision (“ROD”) from the U.S. Department of Transportation’s Maritime Administration in accordance with the provisions of the Deepwater Port Act of 1974. The receipt of the ROD is a significant milestone in the process to obtain a license for SPOT under the Deepwater Port Act.

The proposed SPOT project is comprised of a fixed-platform, deepwater port marine terminal in the Gulf of Mexico that will be connected to an onshore crude oil storage facility with approximately 4.8 million barrels of capacity in Brazoria County, Texas. The platform will be located approximately 30 nautical miles off the coast of Texas in approximately 115-feet of water. The platform will be connected to the onshore storage facility by two 36-inch, bi-directional pipelines. SPOT is designed to load Very Large Crude Carriers (“VLCCs”) and other crude oil tankers at rates up to 85,000 barrels per hour.

SPOT is one of the world’s most environmentally focused energy infrastructure projects that includes state-of-the-art pipeline control, vapor recovery and leak detection systems. SPOT is designed to reduce carbon dioxide and volatile organic compound (“VOC”) emissions by approximately 65 percent and 94 percent, respectively, compared to current industry practices. It also significantly reduces spill and collision risk and enhances overall maritime safety by eliminating the current routine of ship-to-ship oil transfers at sea.

Enterprise will begin work immediately to satisfy the remaining conditions to obtain the deepwater port license in 2023. Remaining conditions include routine construction, operating and decommissioning guarantees, submission of public outreach, wetland restoration and VOC monitoring plans, and other state approvals. The Maritime Administration has indicated it will work with SPOT to address and satisfy the conditions of approval for the issuance of the license.

The Maritime Administration and U.S. Coast Guard led the comprehensive, almost four-year environmental review of this project. The ROD includes reviews by more than a dozen Federal governmental agencies, including the Army Corps of Engineers and Environmental Protection Agency, as well as reviews and approvals by the State of Texas. Highlighted below, are some of the notable findings from the ROD: