As demand for petrochemical and hydrocarbon storage supports further expansion & growth, Contanda Terminals talks more about how it is growing its midstream infrastructure in Houston with two construction projects
On the back of the US’ thriving petrochemical, renewables and hydrocarbon markets the storage sector – particularly along the Gulf Coast – has been enjoying a renaissance.
Since 2014, the shale oil revolution has gripped the country, and the results have pushed the US to become the undisputed world leader in oil and gas production as well as reviving the country’s chemical sector and trade flows.
Today, the supply of petrochemicals now outstrips domestic demand, creating increased export activity to locations across the globe. Several US-based chemical projects are coming online, with more in the pipeline, supporting the need for more supply chain infrastructure.
It is expected that by 2025, bulk liquid production in the US chemical industry will increase by 50 million metric tonnes, according to IHS Chemical. Additionally, the American Chemistry Council projects that by 2020 the industry will have sales of more than $1 trillion, with the export of chemicals linked to shale gas reaching $123 billion by 2030.
Against these favourable conditions, Houston-based Contanda Terminals is embarking on two development projects as part of its strategic plan to double its total storage capacity across its 14 US terminals.