HOUSTON -- Enterprise Products Partners and TEPPCO Partners have merged. Under the agreement, TEPPCO will become a wholly-owned subsidiary of Enterprise.
“This strategic combination opens up new avenues of growth for Enterprise by diversifying our asset portfolio, strengthening our presence in key geographic regions, and offering new service options, which will give us the opportunity to extend our successful integrated energy value chain business model,” says Michael A. Creel, Enterprise’s president and CEO. “In addition to Enterprise’s well-established infrastructure that serves producers and consumers of natural gas, natural gas liquids, crude oil and petrochemicals, we now offer access to one of the nation’s largest transportation and storage networks for refined products and crude oil.”
Enterprise, TEPPCO merge
Enterprise Products Partners and TEPPCO Partners have merged.