US-based energy manufacturing and logistics company Phillips 66 has received approval from its board of directors to construct Sweeny Fractionator One and Freeport Liquefied Petroleum Gas (LPG) export terminal in Texas.

As part of the firm’s midstream growth programme, both the projects represent an investment of around $3bn, according to Phillips 66.

The Sweeny Fractionator One, which will provide natural gas liquids (NGL) products to the petrochemical industry and heating markets, will be situated in Old Ocean of Texas, near to the firm’s Sweeny refinery.

The Freeport LPG export terminal, which will leverage Phillips 66 midstream, transportation and storage infrastructure to supply petrochemical, heating and transportation markets, will be located at the firm’s existing marine terminal in Freeport of Texas.

Phillips 66 commercial, marketing, transportation and business development executive vice president Tim Taylor said the projects will allow the firm to maximise existing infrastructure and will position the company for further growth.

"Given the anticipated growth in natural gas liquids production, we see substantial advantages in having fractionation and export facilities on the Gulf Coast outside of Mont Belvieu," Taylor added.