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Stock impact report

ONEOK Announces Joint Ventures with MPLX to Build LPG Export Terminal at Premier Location on U.S. Gulf Coast

ONEOK, Inc. (OKE) 
Last oneok, inc. earnings: 4/28 04:15 pm Check Earnings Report
Company Research Source: PR Newswire
Expands and Extends Integrated NGL Value ChainTULSA, Okla., Feb. 4, 2025 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) and MPLX LP (NYSE: MPLX) have entered into definitive agreements to form joint ventures to construct a new large-scale 400,000-barrel per day (bpd) liquefied petroleum gas (LPG) export terminal in Texas City, Texas, and a new 24-inch pipeline from ONEOK's Mont Belvieu, Texas, storage facility to the new terminal.Texas City Logistics LLC (TCX), the export terminal joint venture, is owned 50% by ONEOK and 50% by MPLX, with MPLX constructing and operating the facility, and is expected to be completed in early 2028. ONEOK's and MPLX's share of the total investment in the export terminal is expected to be approximately $700 million each for a total of $1.4 billion. The export terminal will leverage Marathon's existing location and infrastructure providing construction timing and cost benefits.The 400,000-bpd loading throughput is expected to be primarily low ethane propane (LEP) Show less Read more
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