014 and expires in January 2019. During 2015, DCP Midstream and DCP Midstream Partners, LP (DCP Partners) completed or advanced the following growth projects: The Sand Hills laterals were placed into service in 2015. The Sand Hills pipeline capacity expansion is underway and expected to be in service in the middle of 2016. In March 2015, construction began on a gathering system in the Denver-Julesburg Basin, named the Grand Parkway gathering project, with expected completion in the first quarter of 2016. The expansion of the Keathley Canyon natural gas gathering pipeline system, which is part of DCP Partners’ Discovery joint venture, was placed into service in 2015. The Lucerne 2 plant was placed into service in mid-2015. NGL The company’s NGL business includes the following: The 100,000 barrels-per-day (BPD) Sweeny Fractionator One is located in Old Ocean, Texas. The fractionator is supported by 250 miles of new pipelines and the Clemens Caverns storage facility located near Brazoria, Texas, with connectivity to local petrochemical customers, the Mont Belvieu market hub and the company’s marine terminal in Freeport, Texas. A 22.5 percent equity interest in Gulf Coast Fractionators, which owns an NGL fractionation plant in Mont Belvieu, Texas. The company operates the facility, and its net share of its capacity is 32,625 barrels per day. A 12.5 percent equity interest in a fractionation plant in Mont Belvieu, Texas. The company’s net share of its capacity is 30,250 barrels per day. A 40 percent interest in a fractionation plant in Conway, Kansas. The company’s net share of its capacity is 43,200 barrels per day. Phillips 66 Partners owns a direct one-third interest in both Sand Hills and Southern Hills, whose pipelines connect Eagle Ford, Permian and Midcontinent production to the Mont Belvieu, Texas market. In December 2015, operations began at Sweeny Fractionator One. Sweeny Fractionator One is located adjacent to the company’s Sweeny Refinery and supplies purity ethane and LPG to the petrochemical industry and heating markets. Raw NGL supply to the fractionator is delivered from nearby major pipelines, including the Sand Hills pipeline. The fractionator is supported by major new infrastructure, including connectivity to two NGL supply pipelines, an 180,000 BPD bi-directional pipeline to the Mont Belvieu market center and a multi-million barrel salt dome storage facility with access to the company’s marine terminal in Freeport, Texas. During 2015, construction progressed on the Freeport LPG Export Terminal located at the site of the company’s existing marine terminal in Freeport, Texas. The terminal expansion would leverage its transportation and storage infrastructure to supply petrochemical, heating and transportation markets globally. In addition, a 100,000 BPD unit to upgrade domestic propane for export is being installed near the Sweeny Fractionator One. The terminal would have an initial export capacity of 150,000 BPD of LPG with a ship loading rate of 36,000 barrels per hour. The terminal is exporting 10,000 to 15,000 BPD of natural gasoline (C5+) from Sweeny Fractionator One. The LPG produced at Sweeny Fractionator One is being delivered through pipeline to local petrochemical customers, as well as to the market hub at Mont Belvieu, Texas. The company would have the capability to place the LPG into global markets upon completion of its Freeport LPG Export Terminal in the second half of 2016. Chemicals segment This segment manufactures and markets petrochemicals and plastics on a worldwide basis. This segment consists of the company’s 50 percent equity investment in Chevron Phillips Chemical Company LLC (CPChem). As of December 31, 2015, CPChem owned or had joint-venture interests in 34 manufacturing facilities and 2 research and development centers located around the world. The company structures its reporting of CPChem’s operations around two primary business segments, Olefins and Polyolefins (O&P) and Specialties, Aromatics and Styrenics (SA&S). The O&P business segment produces and markets ethylene and other olefin products; the ethylene produced is primar
phillips 66 (PSX:New York)
2331 CityWest Boulevard
Houston, TX 77042
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