LOOP LLC Awards Construction Contract and Begins Construction on New Crude Oil Storage Tanks in Louisiana

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Researched by Industrial Info Resources (Sugar Land, Texas). LOOP (Louisiana Offshore Oil Port) LLC (Metairie, Louisiana) has awarded the construction contract for a crude oil storage capacity expansion at the Cut Off, Louisiana crude oil terminal to American Tank & Vessel Incorporated (Mobile, Alabama). The construction contract involves the construction of four new 660,000 barrel capacity crude oil storage tanks along with support pumping and piping facilities. LOOP LLC is currently laying the foundations for the new tanks and expects construction to begin full force on the new tanks beginning in July 2007.

Once complete in 2009, the new tanks will increase crude oil storage capacity by 2.64 million barrels. LOOP LLC has existing crude oil storage capacity of 50 million barrels in underground storage and 3.6 million barrels of above ground storage. LOOP LLC is a limited liability company established in 1996 and is owned by Marathon Ashland Pipeline LLC, Murphy Oil Corporation and Shell Oil Company.

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