Phillips 66 Plans $1B Texas LPG Export Terminal

Law360, New York (November 1, 2013, 1:07 PM EDT) -- Houston-based oil refiner Phillips 66 Co. said Thursday that it plans to spend at least $1 billion to build a liquefied petroleum gas export terminal on the Texas Gulf Coast, in an effort to cash in on growing global demand.

Phillips 66, spun off from ConocoPhillips Co. last year, said it would build the proposed LPG terminal on the site of the company’s existing marine terminal in Freeport, Texas, and would supply the new terminal with LPG from its facility in Mont Belvieu, Texas, and its...
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