Enterprise Products Partners LP’s crude pipeline volumes rose by 16% in the first quarter, the U.S. energy pipeline operator said on May 2, as demand recovered.

Russia’s invasion of Ukraine and worries of a supply crunch increased prices of U.S. oil and natural gas by more than 33% and 50% in the quarter respectively, driving producers to boost output and increase volumes though pipelines.

Crude oil pipeline transportation volume rose to 2.2 million bbl/d, in the quarter ended March 31, from 1.9 million bbl/d a year earlier.

Volumes climbed on the company’s Midland-to-ECHO pipeline, which transports crude from the heart of the Permian Basin, to Enterprise’s ECHO terminal in Houston, and on its crude oil gathering systems in West Texas and southeast New Mexico that connect to its terminal in Midland, Texas, Enterprise said.

Crude volumes handled by the company's marine terminals also rose 39% to 796 million bbl/d.

Natural gas pipelines transported 16.4 trillion British thermal units per day, 20% higher than in the year-ago quarter, as demand for the fuel surged in Europe after Russia's invasion of Ukraine, which Moscow calls a “special military operation.”

To capitalize on increased demand for natural gas, Enterprise in January agreed to buy Warburg Pincus-owned Navitas Midstream for $3.25 billion.

Pipeline operators, including Enterprise, have also sought to re-purpose some of their vast network of energy pipelines. Enterprise and Occidental Petroleum’s low carbon venture announced plans last month to work toward a potential CO₂ transportation and sequestration solution for the Texas Gulf Coast. Read full story

Total revenue rose 42% to $13 billion, beating analysts’ average estimate of $10.39 billion, according to Refinitiv IBES.

Excluding one-time items, profit of 59 cents per share also beat expectations of 53 cents per share.