Westlake Chemical Partners LP is a limited partnership that operates, acquires, and develops ethylene production facilities and related assets in the United States. Formed by Westlake Corporation, the company primarily converts ethane into ethylene and sells co-products such as propylene, crude butadiene, and hydrogen. The partnership conducts its operations through Westlake Chemical OpCo LP, in which it holds a minority interest. OpCo's assets include three ethylene production facilities located in Calvert City, Kentucky, and Lake Charles, Louisiana, as well as a 200-mile ethylene pipeline. The company generates revenue primarily through long-term, fixed-margin contracts with Westlake Corporation, which serves as its primary customer and sponsor. This vertically integrated structure provides a stable income stream that is largely insulated from commodity price fluctuations.
