Houston – June 21, 2018 (PR Newswire) – Caliche Development Partners (“Caliche”), a Houston-based company focused on the development, construction, and operation of subsurface hydrocarbon storage assets and related pipelines in North America, today announced plans to expand its natural gas liquids (NGL) salt dome cavern storage facility in Beaumont, TX. The expansion will include a new five-million-barrel cavern for ethane storage, with up to 120,000 barrels per day of deliverability, as well as a 12-mile ethane header mirroring the path of Caliche’s existing ethylene system. This header will cross five ethane pipelines connecting more than 50% of Gulf Coast ethane consumption with the Mont Belvieu NGL complex. Caliche expects its previously announced ethylene cavern to be fully subscribed by its September 30 in-service date and continues to respond to customer interest regarding additional cavern development.
“We are excited to serve Gulf Coast olefins producers as an important part of their supply chain, without marketing or taking positions in NGLs. The ongoing expansion of Coastal Caverns is supported by our partner, Energy Spectrum Capital,” said Dave Marchese, Chief Executive Officer of Caliche. “We are pleased with our local construction partners' performance and productivity, which they have achieved without compromising safety. Our expansion plans match our commitment to the Golden Triangle community of creating jobs and bringing additional industry to the growing region.”
When fully developed, Caliche’s Coastal Caverns storage facility could provide up to 32 million barrels of purpose-built, salt cavern storage facilities.
About Caliche Development Partners, LLC
Caliche Development Partners, LLC is a Houston, Texas-based company focused on the acquisition, development, construction, ownership, and operation of subsurface hydrocarbon storage assets and related pipelines in North America, with a primary focus on the U.S. Gulf Coast. The company has partnered with North America's oldest dedicated midstream private equity investor, Energy Spectrum Capital, who also brings substantial midstream experience to the Caliche board. Together, the team offers a mixture of deep industry knowledge, positioning the partnership for successful development and ownership. More information about Caliche Development Partners, LLC and Caliche Coastal can be found at http://www.calichestorage.com/caliche-coastal.html. More information about Energy Spectrum Capital can be found at https://www.energyspectrum.com.
Finance Contact: David Saindon – email@example.com
Media Contact: Emily C. Walsh – firstname.lastname@example.org