This excerpt taken from the EPD 8-K filed Aug 28, 2006.
Slide 79 Texas Gas Processing
Down to South Texas, this is a lot. This place is a lot like what we got when we bought Shells NGL business in South Louisiana. It had a pipe up too close to Mont Belvieu but it was, it didnt have a lot of capacity in it. It had contracts down in the local market, pretty good contracts in reality for the most part. One of them was with a refinery down there that used to own the system and needed the product and it was ten years and about to expire. One was with a chemical company that used to have a cracker down there; they had since shut it down. So what we were faced with in South Texas until up before last year is our chemical customer that were getting a pretty decent price from that no longer had an appetite because he shut his plant down. So all of a sudden what he was offering us was some pretty deep discounts relative to Mont Belvieu. In addition what he was suggesting is that we had to produce. So regardless of extraction economics, we were going to have to produce the product; we were going to get a deep discount.