The Port of Corpus Christi has voted to terminate its lease agreement with Lone Star Ports for a petroleum export terminal.
The port had originally approved the lease in April 2019. Lone Star Ports was planning to develop the first US onshore export terminal capable of handling very large crude carriers (VLCCs), with a channel depth of 56’ (17 m). It would have had two docks and been able to load up to 2 million bbl of crude per ship.
The port has not given a reason for the decision.
‘The Port thanks Lone Star Ports for the investments they bring to our community and remains dedicated to the development of a VLCC loading facility on Harbor Island. The Port is committed to its pursuit of infrastructure projects as we continue to serve the needs of all Port customers and stakeholders, all of whom have made the Port of Corpus Christi the leading energy export gateway in the nation,’ a spokesperson told Tank Storage Magazine.
Lone Star Ports has not responded to requests for comment.