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Moda announces early delivery of storage capacity

Moda announces early delivery of storage capacity
Moda Midstream has started deliveries of storage tanks to customers from its 10-million-barrel expansion at the Moda Ingleside Energy Centre in Ingleside, Texas.

The company has so far delivered 2.4 million barrels of new storage capacity ahead of schedule and has a combined total storage of 4.4 million barrels at the energy centre and Moda Taft Terminal. Moda expects to deliver half of the 10-million-barrels of expansion tankage to customers and will have a total capacity of 7 million barrels by the end of 2019.

Bo McCall, Moda president and CEO, says: 'We have received strong demand for additional storage and throughput commitments to support our next expansion phase that will be similar in size to what we are executing today and will be easily accommodated at MIEC's 925-acre footprint and expansive waterfront.'

The company has also started new marine enhancements. MIEC will be one of the first destinations to benefit from the Port of Corpus Christi Channel Improvement Project to increase the depth of the channel. Moda has started structural enhancements and dredging to berth 5. These enhancements will allow for the docking of Suezmax class vessels. They have also begun improvements to berth 4, which will allow for the docking of VLCCs.

McCall adds: 'We are thrilled to be adding a second VLCC berth at MIEC to give our customers unparalleled optionality. MIEC already has the highest marine loading rates and fastest turnaround times of any Gulf Coast crude oil terminal. We are continuing to invest in our waterfront to enhance our capabilities and ensure efficient, safe and reliable loading.'

Additionally, Moda recently placed tankage in service at the Moda Taft Terminal, located at the centre of an emerging pipeline and storage hub near Taft, Texas. It is connected to the EPIC crude oil pipeline and Moda's 20-inch pipeline between the Inner Harbour and MIEC. The terminal will be connected to the Cactus II Pipeline, the Gray Oak pipeline and other crude oil systems.

The company is also evaluating the construction of an additional pipeline, the Moda Ingleside Express Pipeline. It would be bi-directional and run between MIEC and Taft. The new pipeline would provide customers additional connectivity between the Moda Taft Terminal and MIEC's waterfront.

Read an exclusive interview with Moda Midstream's executive vice president, COO and founding partner Javier del Olmo in Tank Storage Magazine's 2019 North America Edition. For more information visit www.tankstoragemag.com/shop.



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