Enterprise Products Partners is entering into the next phase of development for its Sea Port Oil Terminal (SPOT) offshore Texas after receiving the deepwater port license needed to continue from the U.S. Maritime Administration (MARAD), according to an April 9 press release.
SPOT is located approximately 30 nautical miles off Brazoria County in 115 ft of water. The next step in development is making the offshore terminal capable of loading 2 MMbbl/d of crude oil, Enterprise said in the release. The facility will be able to load up to 85,000 bbl/hr into very large large crude carriers (VLCCs) and other crude tankers.
Enterprise Products Partners is “still in the process of commercializing the project and won’t have an estimate on the timing for construction until we make a final investment decision regarding the development of SPOT,” a spokesperson for Enterprise told Hart Energy in an emailed statement.
Enterprise said SPOT, which is on track to be the first deepwater, crude-exporting hub off Texas according to MARAD’s website, is expected to offer access to over 40 grades of crude oil, including Midland WTI.
The project received conditional approval in November 2022 and was reviewed by MARAD, the U.S. Coast Guard and more than a dozen other federal agencies, including the Environmental Protection Agency and the State of Texas.
Officials in the record of decision said the construction and operation of an offshore export terminal and the installation of a vapor combustion system at the deepwater port will reduce the number of ship-to-ship transfers of crude oil and lower emissions from conventional crude oil loading within the U.S.
SPOT will reduce crude vapor emissions by 95%, greenhouse gases by 65% and reduce operational risks from reverse lightering, an unregulated process where crude oil is offloaded from multiple smaller ships onto a larger vessel in federal waters off the U.S. Gulf Coast, A.J. Teague, co-CEO of Enterprise’s general partner, said.
Recommended Reading
New Mexican President, Same Reliance on Permian Gas
2024-08-13 - While Sheinbaum leans toward a stronger Pemex, U.S. producers are likely to maintain their relevance in Mexico.
Tesla to Pause Plans for a Mexican Plant, Impacting Mexico's Nearshoring Appeal
2024-07-25 - Tesla, which announced plans in 2023 to build a $5 billion gigafactory in northern Mexico, is now pausing development activities until after the U.S. presidential election, its CEO Elon Musk said during the EV maker’s second quarter 2024 webcast.
Pitts: Oh, What a Tangled Web the Supermajors Weave
2024-07-23 - Exxon and Chevron and Guyana and Venezuela—‘Let’s Make A Deal’ meets ‘Love, South American Style.’
Chevron Warns of Ongoing Uncertainties in Venezuela After Elections
2024-08-08 - Chevron, the only U.S. company operating in Venezuela, warned of ongoing uncertainties in the South American after recent presidential elections, and the company has already said it will not invest new capital into the country.
Fitch Warns of Citgo Credit Risks but Affirms Stable Outlook
2024-09-06 - Rating agency Fitch affirmed the default rating of U.S. refiner Citgo Petroleum Corp. at 'B' with a stable outlook, while highlighting operational risks and contagion effects from U.S. sanctions on Citgo's Caracas-based parent PDVSA.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.