Posted on July 21, 2020
Corpus Christi, TX, USA – The Port of Corpus Christi is proud to recognize Buckeye Partners L.P. for achieving a historic milestone in its South Texas Gateway (STG) Terminal project – loading the first vessel with crude oil sourced from the Permian Basin for export to overseas markets.
STG is a joint venture 50 percent owned and operated by Buckeye Partners. Phillips 66 Partners LP and Marathon Petroleum Corporation each have a 25 percent ownership interest. When fully operational, STG’s petroleum products storage capacity will be 8.6 million barrels, with the potential to expand to 10 million barrels, and up to 800,000 barrels per day of throughput capacity at two deepwater docks.
“The milestone reached by Buckeye Partners L.P. on loading its first vessel at the South Texas Gateway Terminal is monumental, particularly as our nation’s economic recovery from COVID-19 gets underway,” said Sean Strawbridge, Chief Executive Officer for the Port of Corpus Christi. “The oil and gas industry has gone through a period of unprecedented demand destruction that is only now beginning to show signs of reversing. The loading of this vessel with crude from the Permian Basin is a sign that this economic downturn is changing direction.”
“South Texas Gateway represents a significant investment in the Port of Corpus Christi and a long-term commitment to our customers,” said Khalid Muslih, Executive Vice President of Buckeye GP and President, Global Marine Terminals. “Our employees and contractors continue their efforts to safely and efficiently complete the additional phases of construction on this project, which we expect to be fully complete by the first quarter of 2021. This world-class facility will play a critical role in serving global energy markets from South Texas and the Port of Corpus Christi.”
“We congratulate Buckeye Partners L.P. for reaching this important stage in their South Texas Gateway Terminal facility,” said Charles W. Zahn, Port of Corpus Christi Commission Chairman. “As The Energy Port of the Americas™, it is our mission to ensure that our customers are able to fulfill the energy needs of our allies around the world who rely on American energy to power their lives.”
About Port Corpus Christi
As a leader in U.S. Crude Oil export ports and a major economic engine of Texas and the nation, Port Corpus Christi is the 3rd largest port in the United States in total revenue tonnage. Strategically located on the western Gulf of Mexico with a 36-mile, soon to be 54-foot (MLLW) deep channel, Port Corpus Christi is a major gateway to international and domestic maritime commerce. The Port has excellent railroad and highway network connectivity via three North American Class-1 railroads and two major interstate highways. With an outstanding staff overseen by its seven-member commission, Port Corpus Christi is “Moving America’s Energy.” www.portofcc.com
About Buckeye Partners
Buckeye Partners, L.P., a wholly owned investment of the IFM Global Infrastructure Fund, owns and operates a diversified global network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage, processing and marketing of liquid petroleum products. Buckeye is one of the largest liquid petroleum products pipeline operators in the United States in terms of volumes delivered, with approximately 6,000 miles of pipeline. Buckeye also uses its service expertise to operate and/or maintain third-party pipelines and terminals and perform certain engineering and construction services for its customers. Buckeye’s global terminal network comprises more than 115 liquid petroleum products terminals with aggregate tank capacity of approximately 127 million barrels across its portfolio of pipelines, inland terminals and marine terminals located primarily in the East Coast, Midwest and Gulf Coast regions of the United States as well as in the Caribbean. Buckeye’s global network of marine terminals enables it to facilitate global flows of crude oil and refined petroleum products, offering its customers connectivity between supply areas and market centers through some of the world’s most important bulk storage and blending hubs. Buckeye’s flagship marine terminal in The Bahamas, Buckeye Bahamas Hub, is one of the largest marine crude oil and refined petroleum products storage facilities in the world and provides an array of logistics and blending services for the global flow of petroleum products. Buckeye’s Gulf Coast regional hub, Buckeye Texas Partners, offers world-class marine terminalling, storage and processing capabilities. Buckeye is also a wholesale distributor of refined petroleum products in certain areas served by its pipelines and terminals. More information concerning Buckeye can be found at www.buckeye.com.
Source: portofcc
