Profile: Westlake Chemical Partners LP (WLKP.N)
Westlake Chemical Partners LP, incorporated on March 14, 2014, is a limited partnership formed by Westlake Chemical Corporation (Westlake). The Company operates, acquires and develops ethylene production facilities and other assets. The Company's business and operations are conducted through Westlake Chemical OpCo LP (OpCo). OpCo sells ethylene to Westlake and others, as well as sells co-products of ethylene production, including propylene, crude butadiene, pyrolysis gasoline and hydrogen. As of December 31, 2016, OpCo's assets included three ethylene production facilities, which primarily convert ethane into ethylene, and had an aggregate annual capacity of approximately 3.4 billion pounds, and a 200-mile ethylene pipeline.
As of December 31, 2016, OpCo owned two ethylene production facilities at Westlake's Lake Charles, Louisiana site (Petro 1 and Petro 2, collectively Lake Charles Olefins), with an annual combined capacity of approximately three billion pounds, and one ethylene production facility at Westlake's Calvert City, Kentucky site (Calvert City Olefins), with an annual capacity of approximately 630 million pounds. OpCo owns a 200-mile 10-inch diameter ethylene pipeline system that connects the Equistar Pipeline, the Flint Hills Pipeline and the Lone Star Storage Facility in Mont Belvieu to the Longview, Texas chemical site, which includes Westlake's Longview PE production facility.
As of December 31, 2016, the system had a capacity of 3.5 million pounds per day of ethylene and was operated as a common carrier pipeline by Buckeye Development & Logistics I LLC. In addition, OpCo produces ethylene co-products, including chemical grade propylene, crude butadiene, pyrolysis gasoline and hydrogen. OpCo sells its output of these co-products to external customers.
The Company competes with LyondellBasell Industries, N.V., Royal Dutch Shell, Williams Companies, BASF Corporation and Flint Hills Resources.
Westlake Chemical Partners LP
2801 Post Oak Blvd Ste 600
HOUSTON TX 77056-6110