Houston as Important as Strait of Hormuz, Enterprise Says
- Houston Ship Channel just as important as Mideast strait: CEO
- Enterprise has invested $8 billion around channel over 5 years
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U.S. oil-pipeline operator Enterprise Products Partners LP is irked that the Middle East’s Strait of Hormuz hogs the spotlight over the waterway that flows in its own backyard.
“In many respects, the Houston Ship Channel is now just as important as the Strait of Hormuz,” Chief Executive Office Jim Teague said Wednesday on a conference call with analysts. “Neither this country nor the world has ever fully understood or appreciated the importance of the Ship Channel, but the U.S. oil and gas and petrochemical industry is beginning to.”