MPLX LP (MPLX) is a fee-based, growth-oriented master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) in 2012. It is one of the largest MLPs in existence.
MPLX’s network of assets includes approximately 2,900 miles of pipeline across nine states. Through MPC’s ownership interests in MPLX, it is one of the largest petroleum pipeline companies in the U.S. on the basis of total volume delivered. The partnership owns an interest in and operates a barge dock facility located on the Mississippi River near Wood River, Ill., with approximately 78 mbpd of crude oil and product throughput capacity, as well as crude oil and product storage facilities (tank farms) located in Patoka, Wood River and Martinsville, Ill., and Lebanon, Ind., with approximately 4.5 million barrels of available storage capacity. MPLX also owns a butane cavern located in Neal, W.Va., with 1 million barrels of available storage capacity that serves MPC’s Catlettsburg, Ky., refinery.
MarkWest Energy Partners, L.P. (MarkWest) is a wholly owned subsidiary of MPLX. MarkWest is the second-largest processor of natural gas in the United States and largest processor and fractionator in the Marcellus and Utica shale plays. MarkWest’s assets include more than 5,000 miles of gas gathering and natural gas liquids (NGL) pipelines, 51 gas processing plants, 11 NGL fractionation facilities and one condensate stabilization facility.
MPLX’s operations are strategically located within MPC’s refining and marketing supply network, and are positioned to provide MPC with a continued logistical competitive advantage.