Navigator Holdings has completed the expansion of its existing ethylene export terminal joint venture owned 50/50 by Navigator and Enterprise Products Partners LP at Morgan’s Point, Houston, US. Navigator Gas has further acquired three handysize ethylene carriers for a total purchase price of $83.9 million (€81.5 million), complementing the increased export capacity from the Export Terminal Joint Venture.
The expansion project was completed on time in late-December 2024 and within budget. Going forward, the flex train is expected to increase ethylene export capacity at Morgan’s Point by at least 550,000 tonnes to 1.55 million tonnes per year, starting in 2025, and potentially up to a total of 3.2 million tonnes per year in the coming years. Further, the Expansion Project is anticipated to triple the current instantaneous ethylene refrigeration capacity at Morgan’s Point from 125 tonnes per hour to 375 tonnes per hour, providing increased flexibility for customers and the potential to add additional capacity based on demand. The expanded capacity will utilize the Export Terminal Joint Venture’s existing 30,000 tonne refrigerated tank which will continue to facilitate loading vessels at Morgan’s Point at 1,000 tonnes per hour. Additionally, the Joint Venture has signed an increased and extended offtake agreement with its largest offtaker with the additional volumes starting in the first quarter of 2025.
Mads Peter Zacho, CEO of Navigator Gas comments: ‘Future demand for competitively priced US ethane and ethylene is likely to continue its upward trajectory in the coming years. The ethylene export terminal expansion, and the addition of three handysize ethylene carriers to our fleet, provides us with key capabilities and infrastructure to meet that growing demand.’
Navigator Gas Completes Terminal Expansion
