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Houston startup plans $2 billion Permian pipeline

  • Wednesday, August 2, 2017
  • Posted By Meagan Wildfong

PermBasin 

Houston pipeline startup Permico Energia hopes to build a $2 billion natural gas liquids pipeline across Texas from the booming Permian Basin to refining and port access near Corpus Christi.

The pipeline project includes building a fractionator near Corpus Christi to separate the NGLs into individual products - ethane, propane and butane - as well as products pipelines to carry the ethane and more to Houston-area markets like Mont Belvieu. The products typically are exported sold to the petrochemical sector and heating markets.

 

For a privately owned startup without projects under its belt and a massive price tag, full financing could still be quite a ways off. However, Permico co-founder and CEO Jeff Beicker said the company has funding commitments from unnamed South Korean investment banks and pension fund institutions. The company said it has about $800 million committed by Korean pension funds, but Permico isn't naming the funds.

 

To complete article please follow this link to the Fuel Fix

 

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