Enterprise Products Partners is exploring the possibility of selling its 50 percent stake in a recently-completed South Texas crude export terminal, according to a marketing document viewed by Reuters.
Enterprise is considering an exit from the joint venture with terminal operator Plains All American Pipeline after proposing to build its own offshore port near Houston.
The Houston-based pipeline operator has reportedly hired RBC Capital Markets LLC to advise on a sale.
The joint venture, Eagle Ford Terminals Corpus Christi, is connected to the two companies’ 660,000 barrels per day Eagle Ford JV Pipeline. The pipeline brings crude from the Permian Basin and Eagle Ford shale fields to the U.S. Gulf Coast.
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