Buckeye Partners, Phillips 66 Partners and Andeavor will develop a new deep-water, open access marine terminal in Ingleside, Texas. The South Texas Gateway Terminal will be constructed on a 212 acre waterfront parcel at the mouth of Corpus Christi Bay.
The facility will be the main outlet for crude oil and condensate volumes delivered off of the planned Gray Oak pipeline from the Permian Basin. The terminal will offer 3.4 million barrels of crude oil storage capacity, connectivity to the Gray Oak pipeline and two deep-water vessel docks capable of berthing Very Large Crude Carrier (VLCC) petroleum tankers.
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The facility will possible to include over 10 million barrels of storage capacity as well as various additional docks and other inbound pipeline connections. The construction of the terminal is scheduled to start initial operations by the end of 2019. Buckeye will have a 50% interest in the newly formed joint venture and Phillips 66 Partners and Andeavor will each own a 25% interest.
Khalid Muslih, Executive Vice President of Buckeye and President of Buckeye’s Global Marine Terminals business unit, mentioned:
The South Texas Gateway Terminal will serve as a premier open-access deep-water marine terminal in the Port of Corpus Christi. The terminal will provide customers with logistics solutions that connect the region’s rapidly growing crude oil production with advantaged access to global markets.
