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Phillips 66 to Expand Texas Natural Gas Liquids Project


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These translations are done via Google Translate

June 13 (Reuters) – U.S. oil refiner Phillips 66 said on Wednesday it planned to spend up to $1.5 billion on the expansion of its natural gas liquids project in Sweeny, Texas.

The expansion includes the construction of two natural gas liquids fractionators, with a capacity of 150,000 barrel per day (bpd) each, the company said.

DCP Midstream LP said it had an option to buy up to a 30 percent stake in the fractionators. The option would be exercisable once the project is completed and has a capital investment of about $400 million.

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The project, which is set to begin commercial operations in late 2020, will increase Sweeny hub’s natural gas liquids refining capacity to 400,000 bpd.

(Reporting by Parikshit Mishra in Bengaluru; Editing by Shounak Dasgupta)



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