Houston pipeline startup Permico Energia hopes to build a US$2 billion natural gas liquids pipeline across Texas from the Permian Basin to refining and port access near Corpus Christi, Texas.
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 such as Mont Belvieu.
The products typically are exported sold to the petrochemical sector and heating markets.
Permico co-founder and CEO Jeff Beicker said the company has funding commitments from unnamed South Korean investment banks and pension fund institutions.
He indicated Japan's Sumitomo Mitsui Bank Corp. is the lead bank providing loans.
"We have enjoyed a positive reception from both sides of the pipe and are currently negotiating long term producer and industrial partner contracts," Beicker added.
Houston pipeline company Kinder Morgan is already planning to build a massive natural gas network from Permian to Corpus Christi. Likewise, Houston's Enterprise Products Partners is constructing an NGL pipeline from the Permian to Houston.