Wednesday, October 12, 2016

NGL Energy Partners Buys Texas Crude, Condensate Marine Terminal

 Port of Point Comfort in Point Comfort, Texas

NGL Energy Partners said Monday that it has acquired a crude oil and condensate marine terminal project and related assets from Pelorus Terminal: Point Comfort LLC.

The terminal is located at the Port of Point Comfort in Point Comfort, Texas, and will include 350,000 shell barrels of storage capacity, multiple truck unloading bays and the capability to load both inland and ocean-going vessels

from three docks at the port, NGL Energy Partners said.
Point Comfort is located between Houston and Corpus Christi on the Gulf Coast.

The facility will have an initial truck receipt capacity of at least 30,000 b/d and a marine loading capacity of up to 20,000 barrels per hour.

NGL expects the terminal to be ready for commercial service in April. The terminal can be expanded to meet future market demand.

"The terminal is backed by long-term, fee-based contracts and will enhance our ability to service additional markets for the export of crude oil and condensate via the Gulf of Mexico," said Don Robinson, executive vice president of NGL.

NGL Energy Partners is a Delaware limited partnership. NGL owns and operates a vertically integrated energy business with five primary businesses: water solutions, crude oil logistics, NGL logistics, refined products/renewables and retail propane. 

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