Booming U.S. NGL exports idled with Houston channel closure

HOUSTON (Bloomberg) -- The closing of the Houston Ship Channel is idling vessels that carried a record amount of U.S. NGL exports last year, raising questions about the need for geographic diversity in the burgeoning market. Most U.S. capacity to export NGLs is on the channel, said Peter Fasullo, a principal at Houston-based energy consultant EnVantage Inc. The U.S. averaged 475,000 bpd of exports in 2013, up from 164,000 in 2010, according to Energy Information Administration data. Two companies, Enterprise Products Partners LP and Targa Resources Partners LP, have channel operations that combine to represent 380,000 bpd of export capacity, Fasullo said.