2019-11-13

Satellite's U.S. Partner Energy Transfer Opened Office in Beijing

On April 1, 2019, Satellite’s U.S. partner Energy Transfer Partners, an U.S. mid-stream energy giant, held the grand opening ceremony of its Beijing office.  This is the first time that Energy Transfer expands into International market and it choose Beijing for its first International office to explore the Asia Pacific market.  As the very important one who introduced ET to the Chinese market, Satellite’s executives attended the ceremony.  Executives attended include: Mr. Yang Wei Dong, Chairman of Satellite; Mr. Shen Xiao Wei, Vice President; Mr. Ma Tu Jun, CEO of Satellite U.S.

 

The story between ET and China started from its joint-venture project with Satellite.  On March 15, 2018, ET and Satellite signed ethane supply agreement in Beijing.  This is the first ethane import contract signed with an U.S. company in China’s history.

 

Satellite and ET formed a joint-venture company in the U.S. called Orbit Gulf Coast NGL Exports LLC.  The joint-venture company will invest 0.63 billion USD to build and operate an ethane production facility and exporting port to supply ethane as feedstock for Satellite’s Lian Yun Gang ethylene production facility.  Currently, both the ethane exporting site in Netherland and the ethylene production site in Lian Yun Gang are under constructions and are progressing smoothly.