Magellan Midstream Partners and LBC Tank Terminals are increasing crude and condensate storage and pipeline assets at Seabrook Logistics.
Seabrook is building 1.7 million barrels of additional crude oil and condensate storage adjacent to LBC's existing terminal in Seabrook, Texas.
Additionally, the facility will be connected to Magellan's Houston crude oil distribution system with a 24-inch diameter bi-directional pipeline between the Seabrook Logistics' facility and Genoa Junction and investing in a new Aframax dock with up to a 45-foot draft.
The expansion is slated to cost $250 million and is due to be operational during mid-2018.
Separately, Magellan is investing an additional $70 million to build a new 24-inch diameter pipeline from its East Houston terminal to Holland Avenue. This new pipeline segment is expected to be operational during mid-2018.
Seabrook Logistics is currently in the final stages of constructing more than 700,000 barrels of new crude oil and condensate storage and a new pipeline, which will connect to an existing third-part pipeline to transport crude to a Houston-area refinery in the first quarter of 2017.
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