Phillips 66 holds direct interests in three NGL fractionators and gathering systems at strategic NGL hubs in the United States. Phillips 66 owns 22.5 percent of the Gulf Coast Fractionators partnership in Mont Belvieu, Texas. The company also owns 12.5 percent of the Enterprise Mont Belvieu Fractionator and 40 percent of the Conway Fractionator, located at the Conway hub in Kansas.
In addition to fractionators, we own interests in several NGL gathering and interstate transmission pipeline systems. These systems gather and deliver raw or mixed NGL, also referred to as Y-Grade, to supply the company's facilities at its joint-venture Borger Refinery in Texas and the fractionators in Mont Belvieu and Conway.
Phillips 66 has supply and trading operations that manage NGL volume requirements for Phillips 66 refineries and fractionators. It also conducts trading at the Conway and Mont Belvieu hubs.
In 2013, Phillips 66 announced plans for two projects that we expect will significantly grow the value of our NGL business. The 100,000 barrel-per-day (BPD) Sweeny Fractionator One Project will be located close to our Sweeny Refinery in Old Ocean, Texas. NGL feedstock for the fractionator project will be supplied by several nearby pipelines, and products manufactured by the fractionator will be marketed to petrochemical customers in the region and exported globally.
Phillips 66 is also developing an LPG export facility at our existing marine terminal in Freeport, Texas. The new facility is intended to help meet growing global market demand for U.S.-supplied products and will leverage the company's transportation and storage infrastructure. With an expected 4.4 million barrels per month of LPG export capacity, the Freeport LPG Export Terminal will be supplied with LPG from the Mont Belvieu and Sweeny areas. A related sales contract for delivery of LPG to China was signed in March 2014.
The fractionator is expected to start up in the third quarter of 2015, with the export facility following in mid-2016. These two projects, which received board approval in early 2014, represent a total investment of more than $3 billion.
Phillips 66 holds direct one-third ownership interests in the Sand Hills and Southern Hills NGL pipelines, connecting Eagle Ford shale, Permian Basin and Midcontinent NGL production to the Mont Belvieu market. DCP Midstream operates the pipelines, which began service in 2013.