JupiterMLP has secured funding to build a one million barrel per day capacity Jupiter Pipeline from the Permian Basin to the Port of Brownsville, Texas.
It is expected to be operational in late third quarter of 2020 with origination points near Midland, Pecos and Crane, Texas, and offtake points near Three Rivers, Texas. The engineering, design and right-of-way planning for the pipeline has been completed.
It will be the only pipeline out of the Permian Basin that can access all three deep water ports in Texas and will have direct access to a fully capable VLCC loading facility.
The investment by Charon System Advisors follows an announcement in May from Jupiter, saying it has secured all initial governmental and regulatory permits to load and unload vessels of up to 65,000 deadweight tonnes or Panamax sized vessels at the Jupiter Export Terminal. Jupiter has already secured permits to construct more than 2.8 million barrels of storage in Brownsville and has additional permits on file to increase its storage footprint to more than six million barrels of the potential 10 million barrels of storage capacity.
Jupiter is in the final stages of securing a permit to construct a 170,000 barrel per day processing facility designed to process light US shale crude into on-spec US gasoline and ultralow sulphur diesel.
Tom Ramsey, CEO of Jupiter, says: ‘From our first purchase crude oil business and Jupiter Transport trucking company, to construction of the Jupiter pipeline, its connections in the Permian and the ability to load VLCCs offshore near Brownsville, we are executing on our long-term, global strategy of connecting the ‘Wellhead to the World’.’