08252019Sun
Last updateThu, 22 Aug 2019 5pm

End-User News

$1.2 Billion Oil Export Facility Planned in Texas

The Port of Corpus Christi (TX) Authority has entered into an agreement with The Carlyle Group to develop a crude oil export terminal on Harbor Island, connecting growing crude oil production in the U.S. with global markets. The terminal would be the first onshore location in the U.S. capable of providing export service to fully-laden very large crude carriers (VLCCs).

As part of the agreement, Carlyle agreed to lead the construction and ongoing operations of the terminal on an exclusive basis. Carlyle also agreed that it would arrange for a private funding solution for a dredging project to bring fully-laden VLCCs to Harbor Island (at least a 75-foot main channel depth). 

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