Targa Resources Partners LP Announces Project to Export International Grade Propane

HOUSTON, Sept. 19, 2011 (GLOBE NEWSWIRE) -- Targa Resources Partners LP (NYSE:NGLS) ("Targa Resources Partners" or the "Partnership") announced today that the board of directors of its general partner has approved a $250 million expansion of its Mont Belvieu complex and its existing import/export marine terminal at Galena Park to provide export capability for 5,000+ barrels per hour (Bbl/h) of fully refrigerated, low ethane propane. This expansion complements existing LPG import/export capacity and is in addition to projects that are underway to improve the export refrigeration and loading rates for HD-5 propane and butane.  

The approved propane export project will add a propane de-ethanizer, additional salt dome storage at Mont Belvieu, refrigeration, and other equipment required to load 5,000+ Bbl/h of fully refrigerated, low ethane propane for export at the Galena Park marine terminal. This expansion will allow the Partnership to load three to four VLGC (very large gas carrier) class ships per month and is in addition to its existing capabilities to handle multiple MGC (medium gas carrier) export cargos of HD-5 grade propane, imports/exports of LPGs and petrochemicals and other spot ship and barge business. The Partnership's Galena Park marine terminal is one of only two LPG import/export terminals that operate on the Houston Ship Channel and is integrated with its NGL fractionation and storage operations at Mont Belvieu through an existing pipeline network. The expansion project is expected to be operational in the third quarter of 2013.

"We are excited to announce that we are proceeding to build this world class propane export capability at our Galena Park marine terminal," said Rene Joyce, Chief Executive Officer of the Partnership's general partner and of Targa Resources Corp. (NYSE:TRGP). "This expansion complements our substantial and growing operations at Mont Belvieu and integrated NGL logistics business in response to strong customer interest for export capacity. Our 100,000 Bbl/d Train 4 fractionation expansion at CBF remains on track for start up in early 2013, which will bring the Partnership's total gross fractionation capacity along the Texas and Louisiana Gulf Coast to 593,000 Bbl/d. With the export expansion project at Galena Park, our recently announced slate of organic growth projects totals over $850 million, and we are actively developing additional projects across all of the Partnership's businesses."

About Targa Resources Partners

Targa Resources Partners is a publicly traded Delaware limited partnership that is a leading provider of midstream natural gas and natural gas liquids services in the United States. The Partnership is engaged in the business of gathering, compressing, treating, processing and selling natural gas, storing, fractionating, treating, transporting and selling natural gas liquids, or NGLs, and NGL products and storing and terminaling refined petroleum products and crude oil. The Partnership owns an extensive network of integrated gathering pipelines and gas processing plants and currently operates along the Louisiana Gulf Coast primarily accessing the offshore region of Louisiana, the Permian Basin in West Texas and Southeast New Mexico and the Fort Worth Basin in North Texas. Additionally, the Partnership's natural gas liquids logistics and marketing assets are located primarily at Mont Belvieu and Galena Park near Houston, Texas and in Lake Charles, Louisiana with terminals and transportation assets across the United States. Targa Resources Partners is managed by its general partner, Targa Resources GP LLC, which is indirectly wholly owned by Targa Resources Corp., a publicly traded Delaware corporation.

Targa Resources Partners' principal executive offices are located at 1000 Louisiana, Suite 4300, Houston, Texas 77002 and its telephone number is 713-584-1000.

Forward-Looking Statements

Certain statements in this release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Partnership expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside Targa Resources Partners' control, which could cause results to differ materially from those expected by management of Targa Resources Partners. Such risks and uncertainties include, but are not limited to, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas and natural gas liquids, the timing and success of business development efforts; and other uncertainties. These and other applicable uncertainties, factors and risks are described more fully in the Partnership's Annual Report on Form 10-K for the year ended December 31, 2010 and other reports filed with the Securities and Exchange Commission. Targa Resources Partners undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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         Joe Brass

         Director - Finance

         Matthew Meloy

         Senior Vice President, Chief Financial Officer and Treasurer