$128 million oil storage and shipping facility breaks ground
Junction Energy Capital and Castleton Commodities International broke ground on a $128 million oil storage and distribution facility Dec. 4, helping solidify the Port of Corpus Christi’s status as the nation’s largest exporter of oil. Designed to load oil and gas products piped in from the Permian Basin and Eagle Ford shale plays, the Corpus Christi Marine Storage Terminal is located on the Joe Fulton Corridor next to the M&G Chemicals plant.
The new project is expected to create about 100 jobs during the construction phase and 30-40 full-time jobs once operational, probably sometime in 2019.
“We’re going to be creating storage,” said Rob Johnson of Junction Energy, which is based in Houston. “The idea is to take barrels being produced in the Permian and Eagle Ford, ship them through the facility, load them on the vessels for the ultimate transport to other parts of the U.S. and the world.”
A marine facility included in the construction project will provide docking for ships. It will be permitted to store about 4.5 million barrels of crude oil and process 100,000 barrels per day. Three docks will be built to load tankers for shipping. The first phase of construction includes one dock and six storage tanks that will hold 250,000 barrels each.
The facility will help handle the onslaught of oil product that will soon be coming into the port via at least six new pipelines currently in the works to connect the Permian Basin and Eagle Ford shale plays to Corpus Christi.
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