Form 8-K · Current Report · Filed 2025-02-06
ONEOK Announces Joint Ventures with MPLX to Build LPG Export Terminal and Pipeline
On February 4, 2025, ONEOK, Inc. announced the formation of joint ventures with MPLX LP to construct a new large-scale liquefied petroleum gas (LPG) export terminal in Texas City, Texas, and a 24-inch pipeline connecting to their Mont Belvieu storage facility. The terminal, expected to be completed in early 2028, will have a loading throughput of 400,000 barrels per day and is estimated to cost $1.4 billion, with each company investing approximately $700 million. The pipeline is estimated to cost $350 million, with ONEOK investing $280 million and MPLX $70 million. These projects are expected to provide additional optionality and value to customers by expanding and extending the integrated NGL value chain.
- Filer
- Oneok Inc. OKE · NYSE
- Filed
- Accession
- 0001039684-25-000010
- CIK
- 0001039684
- Signal
- Low impactEnergy
- Source
- Official filing on sec.gov ↗
Items reported
Regulation FD Disclosure
Financial Statements and Exhibits
Market reaction
Close before filing
$97.91
Next session
-2.1%
Since filing
-7.3%
Latest close
$90.81
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from OKE reporting the same item, with the next session's move:
Exhibits (1)
About Oneok Inc.
Oneok Inc., a prominent energy company, plays a crucial role in the United States' natural gas and natural gas liquids (NGL) industries. As an integral midstream service provider, Oneok focuses on gathering, processing, transportation, and storage of natural gas, as well as the fractionation and distribution of NGL products. Its operations span extensive and strategically positioned infrastructure, particularly in prolific production areas like the Rocky Mountains, Mid-Continent, and Permian Basin regions. These operations allow Oneok to efficiently manage the supply chain of hydrocarbons from the extraction points to end-users, ensuring a reliable energy supply. The company's comprehensive service offerings cater to a diverse clientele, including utilities, refiners, and chemical companies. Established in 1906, Oneok has significantly contributed to the energy landscape by enhancing the value chain of natural gas and fostering the transition towards cleaner energy sources. The company's dedication to safety, operational excellence, and sustainability underscores its commitment to the evolving energy market.
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