http://www.tankeroperator.com/ViewNews.aspx?NewsID=10357
Corpus
Christi Authority Port Authority has announced several milestones in the
development of the crude oil export terminal on Harbor Island, Texas.
Locally-based Lone Star Ports will lead the development of the
terminal, claimed to be the first US onshore export terminal able to
handle fully-laden VLCCs.
Lone Star is a joint venture between The Carlyle Group and The Berry
Group. Berry is the largest private employer in the Corpus Christi area
through its numerous investments and operations in the oil and gas
industry and its subsidiary Bay Ltd, a Corpus Christi-based
infrastructure, construction, and fabrication contractor for the oil and
gas sector.
Lone Star Ports is led by CEO Jeremiah "Jerry" Ashcroft III who has
been responsible for the development of several large marine terminals.
The company has signed indicative agreements with Harvest Midstream and
EPIC Crude Pipeline, which is backed by funds affiliated with Ares
Management. These two pipelines will provide connectivity to more than
one million barrels per day.
It also entered into an indicative agreement with Martin Midstream
Partners to provide a single, integrated VLCC solution on Harbor Island.
These agreements and arrangements still remain subject to definitive
documentation among the relevant parties, co-ordination with the Port,
satisfactory completion of due diligence and final approval by each
relevant party.
"Our partnership with the Carlyle Group is designed to assure global
energy markets that requisite infrastructure will be in place and
ready to support the growing exports of American crude oil. We are
pleased with the progress The Carlyle Group has achieved thus far in
reaching full project commercialisation," said Sean Strawbridge, Port of
Corpus Christi CEO.
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