ONEOK and MPLX form JVs to build 400K bpd LPG export terminal and pipeline; total cost $1.75B

ONEOK INC /NEW/

Joint venture for Texas City LPG export terminal: 50/50 ONEOK/MPLX, 400,000 bpd capacity, total investment ~$1.4B.
Separate pipeline JV: ONEOK 80%, MPLX 20%; 24-inch line from Mont Belvieu to terminal; total $350M.
ONEOK's total share of capital investment for both projects is approximately $1.0 billion.
Terminal expected to be completed early 2028; MPLX to construct/operate; ONEOK to construct/operate pipeline.
Projects expand ONEOK's NGL value chain with additional export capacity for LEP and normal butane.

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