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Released October 04, 2019 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--According to the U.S. Energy Information Administration (EIA), U.S. crude oil exports averaged 2.9 million barrels per day (BBL/d) in the first half of 2019, up 966,000 BBL/d from first-half 2018. While Canada remains the largest destination for U.S. crude oil exports, that's not where the growth is being seen, but to overseas destinations such as Asia, Oceania and Europe. To this end, crude oil export terminals are springing up along the U.S. Gulf Coast. Industrial Info is tracking more than $7 billion in active projects to construct these terminals.
Asia and Oceania remain the top overseas destinations for U.S. crude and have seen the most growth for exports. According to the EIA, exports to these regions averaged 1.3 million BBL/d in the first half of this year, increasing by 472,000 BBL/d from the same period of 2018. Western Europe also is a key destination, receiving an average of 824,000 BBL/d in the first six months of 2019, an increase of 66%.
Click on the image at right for a graph from the EIA showing the top destinations for U.S. crude oil.
While most of the export terminals are proposed for sites on the Louisiana and Texas coasts, one of the largest planned terminals is located offshore Texas. Enterprise Product Partners LP (NYSE:EPD) (Houston, Texas) made a final investment decision on its Sea Port of Texas (SPOT) terminal off the coast of Brazoria County in July after signing supply and support agreements with Chevron Corporation (NYSE:CVX) (San Ramon, California). Like most of the export terminal projects in development, the SPOT terminal is being designed to support the loading of Very Large Crude Carriers (VLCCs), which can carry up to 2 million barrels of oil in a single shipment. The SPOT terminal will be built in water depths of 115 feet and will be supplied by the Oyster Creek terminal via a 36-inch pipeline. Construction on the $1.5 billion project is planned to kick off in the first half of next year, with completion planned for the summer of 2022. Cronus Technology Incorporated (Houston) and EDG Consulting Engineers Incorporated (Houston) are providing design engineering services. For more information, see Industrial Info's project report.
Not only oil and gas firms are getting in on the action, but also private equity firms. At Harbor Island, near Port Aransas, Texas, the Carlyle Group-backed Lone Star Ports LLC (Corpus Christi) plans to construct on onshore crude oil export terminal that will be capable of servicing two VLCCs simultaneously. In April, commissioners with the Port of Corpus Christi Authority approved a 50-year lease for the project, which entails demolishing three existing docks that are no longer in use and constructing two new ones, along with a tank farm with a storage capacity of 4 million barrels. The facility will have a loading capacity of 1.4 million BBL/d. The terminal will be connected to pipelines belonging to Hilcorp Energy Company (Houston) and EPIC Midstream Partners (San Antonio, Texas). Hudson Construction Consultants is the contractor on the project, which is planned to kick off in the first half of next year and be completed in late 2021. For more information, see Industrial Info's project report.
Further south, off the coast of Brownsville, Texas, Jupiter Energy Group (Houston) is planning the Jupiter Offshore Loading Terminal (JOLT) to load VLCCs. CTCI Americas Incorporated (Houston) is providing engineering, procurement and construction on the project, which is planned to kick off in 2021 and be completed in mid-2023. For more information, see Industrial Info's project report.
In Louisiana, Tallgrass Energy Partners LP (NYSE:TGE) (Leawood, Kansas) is gearing up to begin construction on a crude oil export terminal Belle Chase, on the southeastern outskirts of New Orleans and near Phillip 66's (NYSE:PSX) (Houston) Alliance Refinery. The project is a joint venture with the Plaquemines Port Harbor and Terminal District and Drexel Hamilton Infrastructure Partners (New York, New York). The facility will be built on the site of a former coal terminal and will be fed by Tallgrass' Seahorse Pipeline. The facility initially will be able to service Post-Panamax vessels, which have a capacity of about 1 million barrels, but Tallgrass hopes to construct an offshore pipeline extension that would allow the terminal to service VLCCs. Construction is set to begin early next year and be completed by the end of 2020. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Asia and Oceania remain the top overseas destinations for U.S. crude and have seen the most growth for exports. According to the EIA, exports to these regions averaged 1.3 million BBL/d in the first half of this year, increasing by 472,000 BBL/d from the same period of 2018. Western Europe also is a key destination, receiving an average of 824,000 BBL/d in the first six months of 2019, an increase of 66%.
Click on the image at right for a graph from the EIA showing the top destinations for U.S. crude oil.While most of the export terminals are proposed for sites on the Louisiana and Texas coasts, one of the largest planned terminals is located offshore Texas. Enterprise Product Partners LP (NYSE:EPD) (Houston, Texas) made a final investment decision on its Sea Port of Texas (SPOT) terminal off the coast of Brazoria County in July after signing supply and support agreements with Chevron Corporation (NYSE:CVX) (San Ramon, California). Like most of the export terminal projects in development, the SPOT terminal is being designed to support the loading of Very Large Crude Carriers (VLCCs), which can carry up to 2 million barrels of oil in a single shipment. The SPOT terminal will be built in water depths of 115 feet and will be supplied by the Oyster Creek terminal via a 36-inch pipeline. Construction on the $1.5 billion project is planned to kick off in the first half of next year, with completion planned for the summer of 2022. Cronus Technology Incorporated (Houston) and EDG Consulting Engineers Incorporated (Houston) are providing design engineering services. For more information, see Industrial Info's project report.
Not only oil and gas firms are getting in on the action, but also private equity firms. At Harbor Island, near Port Aransas, Texas, the Carlyle Group-backed Lone Star Ports LLC (Corpus Christi) plans to construct on onshore crude oil export terminal that will be capable of servicing two VLCCs simultaneously. In April, commissioners with the Port of Corpus Christi Authority approved a 50-year lease for the project, which entails demolishing three existing docks that are no longer in use and constructing two new ones, along with a tank farm with a storage capacity of 4 million barrels. The facility will have a loading capacity of 1.4 million BBL/d. The terminal will be connected to pipelines belonging to Hilcorp Energy Company (Houston) and EPIC Midstream Partners (San Antonio, Texas). Hudson Construction Consultants is the contractor on the project, which is planned to kick off in the first half of next year and be completed in late 2021. For more information, see Industrial Info's project report.
Further south, off the coast of Brownsville, Texas, Jupiter Energy Group (Houston) is planning the Jupiter Offshore Loading Terminal (JOLT) to load VLCCs. CTCI Americas Incorporated (Houston) is providing engineering, procurement and construction on the project, which is planned to kick off in 2021 and be completed in mid-2023. For more information, see Industrial Info's project report.
In Louisiana, Tallgrass Energy Partners LP (NYSE:TGE) (Leawood, Kansas) is gearing up to begin construction on a crude oil export terminal Belle Chase, on the southeastern outskirts of New Orleans and near Phillip 66's (NYSE:PSX) (Houston) Alliance Refinery. The project is a joint venture with the Plaquemines Port Harbor and Terminal District and Drexel Hamilton Infrastructure Partners (New York, New York). The facility will be built on the site of a former coal terminal and will be fed by Tallgrass' Seahorse Pipeline. The facility initially will be able to service Post-Panamax vessels, which have a capacity of about 1 million barrels, but Tallgrass hopes to construct an offshore pipeline extension that would allow the terminal to service VLCCs. Construction is set to begin early next year and be completed by the end of 2020. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
