Enterprise Products Partners plans to build an offshore crude oil export terminal off the Texas Gulf Coast.
The terminal would be capable of fully loading VLCCs, which have capacities of two million barrels and provide the most efficient and cost-effective solution to export crude oil to the largest international markets in Asia and Europe.
The company has started front-end engineering and design and preparing applications for regulatory permitting. Based on initial designs, the project could include 80 miles of 42-inch diameter pipeline to an offshore terminal capable of loading and exporting crude oil at 85,000 barrels per hour.
A.J. ‘Jim’ Teague, CEO of Enterprise’s general partner: ‘On the heels of our second successful loading of a VLCC at the Texas City terminal, we are now planning to expand our capabilities to load crude oil faster and more cost efficiently without the need for lightering vessels.
”Given the long-term outlook for growing supplies of US crude oil production, increasing global demand requiring super tankers, and the future limitations of Gulf Coast port and lightering capacities, we are confident this project will be embraced and supported by both domestic and international customers.
‘Capital and infrastructure to support our project would be solely provided by private capital and would not be reliant nor contingent upon state or federal government agency financial support or infrastructure development. We believe this would enable us to deliver this project in a timely manner once permits are granted and the project is underwritten.’