Vitol Inc. and Harvest Pipeline Company to build crude oil terminal at the Port of Corpus Christi
Vitol Inc. and Harvest Pipeline Company are going to work together to develop a crude oil export terminal at the Port of Corpus Christi. The two energy powerhouses have signed a lease for a 22-acre tract of land at the port.
President Harvest Pipeline Company, Sean Kolassa said: “The agreement between Harvest Pipeline Company and Vitol is an extraordinary opportunity to help satisfy the growing need for export capacity along the Texas Gulf Coast. We are excited for the project to begin moving forward.”
Head of Crude Oil for Vitol, Mark Couling said: “Crude demand, particularly in emerging markets, continues to grow and U.S. shale has an important role to play in satisfying this demand. Our new pipeline and terminal will facilitate the efficient delivery of U.S. crude to global markets, thereby increasing marketing opportunities and optimizing value for U.S. producers.”
The crude oil terminal development will add to Harvest’s existing South Texas pipeline system providing a new connectivity to their Midway Junction and will provide waterborne access to Permian Basin crude oil going to international markets. Crude oil shippers will have access to the terminal via a 16-inch lateral pipeline.
This project is consistent with the Port of Corpus Christi’s strategic plan goals, among which is to provide facilities and services to meet customer needs and provide surface infrastructure and services in support of maritime and industrial development.
Port Corpus Christi Executive Director, John LaRue said: “Port Corpus Christi continues to help develop maritime facilities and provide services to customers that are committed to sustainable growth, and building the future of our community. We are looking forward to growing a long standing relationship with Vitol and Harvest Pipeline Company with mutual benefits for the future of our region.”
19th Dec 2017