EPIC Y-Grade Holdings, LP ("EPIC") today announced that affiliates, EPIC Y-Grade Pipeline LP and EPIC Olefins LP, will construct over 130 miles of 12" ethane and ethylene pipeline to support the steam cracker being built by Gulf Coast Growth Ventures ("GCGV") in San Patricio County. Both pipelines are expected to be completed by the third quarter of 2020.
The transportation agreements between EPIC and GCGV are multiyear and are underpinned by minimum volume commitments.
"We are extremely proud to be a key supplier and service provider to Gulf Coast Growth Ventures as they construct a world class ethane cracker in the lower Gulf Coast," said Phillip Mezey, Chief Executive Officer of EPIC. "These strategic infrastructure investments by both of our companies will continue to drive future investment in the greater Corpus Christi area."
EPIC was formed in 2017 to build, own and operate midstream infrastructure in both the Permian and Eagle Ford Basins. EPIC's first two projects, the EPIC Crude Oil Pipeline and the EPIC NGL Pipeline, will transport crude and NGL across Texas for delivery into the Corpus Christi market. The EPIC Pipelines are backed by capital commitments from funds managed by the Private Equity Group of Ares Management Corporation (NYSE: ARES). For more information, visit www.epicpipelinelp.com.
About Gulf Coast Growth Ventures
ExxonMobil and SABIC are building a multi-billion-dollar plastics manufacturing facility in San Patricio County, Texas. The project, Gulf Coast Growth Ventures, is a unique opportunity created by the abundance of low-cost U.S. natural gas. ExxonMobil and SABIC bring unmatched expertise to this project, having worked together in petrochemical ventures for more than 35 years. For more information, please visit: http://www.gulfcoastgv.com/index.php.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager operating three integrated businesses across Credit, Private Equity and Real Estate. Ares Management's investment groups collaborate to deliver innovative investment solutions and consistent and attractive investment returns for fund investors throughout market cycles. Our global platform had $142 billion of assets under management as of June 30, 2019 and employs more than 1,000 employees in over 20 offices across four continents. Please visit www.aresmgmt.com for additional information.